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Matheson advises Dell Bank on its inaugural €500 million Irish law governed bond issuance

KEY CONTACT(S): Richard Kelly, Margot Carty
PRACTICE AREA GROUP: Structured Finance and Securitisation, Finance and Capital Markets, Listing Services
DATE: 04.11.2019

Matheson recently advised Dell Bank International d.a.c. (“Dell Bank”) in connection with its inaugural issuance and listing of €500 million in senior, unsecured bonds.  Dell Bank is an Irish incorporated captive finance bank supporting Dell Technologies, Inc., one of the world’s leading technology companies.

The transaction, the first public bond issuance by Dell Bank, was a landmark transaction for the company.  The transaction was notable in that all transaction documents were governed by Irish law.  Matheson (as lead counsel) led the drafting of the main transaction documents and advised Dell Bank on all Irish capital markets, corporate and regulatory issues during the process.

Richard Kelly, partner in Matheson’s Finance and Capital Markets Department, who led the Matheson team advising on the transaction, commented: “We are delighted to have worked with Dell Bank on this important transaction for them.  The fact that the transaction, which was fully governed by Irish law, was so well received by the market demonstrates the growing familiarity of investors with Irish law as a governing law for debt capital markets transactions.”

The Matheson team was led by Finance and Capital Markets partner Richard Kelly, who was assisted by Matheson’s Head of Listings, Margot Carty

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