Matheson recently advised a syndicate of lenders (consisting of Bank of Ireland, Wells Fargo, Barclays Bank Ireland and AIB) in relation to the refinancing of Hibernia REIT’s €400 million revolving credit facility. The overall new arrangement consists of a €320 million unsecured revolving facility as well as €75 million of unsecured US private placement notes. This transaction was unique in the Irish market, in the sense that it was the first Irish REIT to move to an unsecured debt structure.
Hibernia REIT plc is a Dublin-focused REIT which owns and develops Irish property. Its current portfolio is valued at €1.3 billion.
The Matheson team was led by Finance and Capital Markets partner Peter O’Brien and senior associate, Ross Forde.
Peter O’Brien, partner, said “We are delighted to have worked with the syndicate of international lenders on this transaction and it underlines the continuing confidence in the Irish commercial real estate sector as well as the broader economy”.