Matheson advises Onate DAC on the establishment of its €100,000,000 Secured Note Programme
A Matheson team led by Finance and Capital Markets partners Richard Kelly and Alan Bunbury and solicitor Kieran Walsh is delighted to have advised Onate DAC on the establishment of its €100,000,000 Secured Note Programme. The Programme is listed on the Vienna MTF. Trustmoore acts as security trustee on the Programme.
Onate provides short-term property finance for purchases, renovations, equity release and debt settlements secured against residential investment property, mixed use or commercial property in Ireland. Onate is the third most active non-bank lender in Ireland, completing over 115 loans, totalling over €70 million, in its two years since launch. The establishment of the Programme allows Onate to diversify its funding sources and leaves it well placed to continue to grow its business.
Richard Kelly commented: At Matheson, we are always looking to partner with innovative Irish businesses and so we were delighted to support Onate on their recent private placement fundraising. We look forward to working with the Onate team during the next phase of its growth