Richard Kelly is a partner in the Finance and Capital Markets Department at Matheson. Richard’s practice includes advising corporates, financial institutions, investment banks, asset managers and institutional investors on all aspects of capital markets transactions involving Irish elements, including corporate bond issuances, asset backed securitisations, CLOs, repackagings and segregated managed account structures.
Richard’s practice also includes advising Irish corporates and investment funds and their counterparties in relation to derivatives transactions, repurchase and reverse-repurchase transactions, securities lending and prime brokerage and on the regulation of derivatives, the application of the Financial Collateral Directive and the operation of netting and set-off in Ireland. Richard has acted for many of the world’s leading financial institutions in providing bespoke legal opinions on the enforceability of close-out netting provisions and collateral arrangements documented using industry standard or client-specific derivatives, repo and prime brokerage documentation.
Richard has been active in the Irish Debt Securities Association (IDSA) since its formation, regularly participating in sub-groups of the IDSA’s legal committee to prepare submissions on proposed legislation. Richard also regularly represents Matheson at meetings of the EMIR working group at Irish Funds.
Recent highlights include:
- Advising a leading investment bank (as lead manager) in relation to the establishment of a EUR 10 billion and USD 10 billion MREL bond issuance programmes by an Irish pillar bank.
- Advising a US multi-national on the issuance of over EUR 3.4 billion of unsecured guaranteed corporate bonds by its Irish financing subsidiary.
- Acting as lead counsel in advising a US multi-national on the issuance and listing of a multi-billion dollar Irish law governed corporate bond issued by its Irish subsidiary.
- Advising a leading investment bank in relation to the first issuance of Sharia compliant bonds (Sukuk) under Irish tax legislation, with a value of over USD 150 million.
- Acting as lead counsel in relation to the establishment of an Irish law governed note issuance programme arranged by a US financial services company, and the issuance of secured notes thereunder linked to a portfolio of aircraft assets.
- Acting as lead counsel in relation to the issuance of approximately EUR 750 million in listed notes linked to subordinated NAMA bonds, in a transaction governed by Irish law.
- Acting as Irish counsel advising two leading banks on the establishment of the world’s first multi-bank trade finance ABS securitisation programme, including the issue of USD 1 billion in Notes listed on the Irish Stock Exchange.
- Advising banks and borrowers on interest rate and currency hedging documentation linked to facility agreements.
- Drafting bespoke legal opinions on the enforceability under Irish law of security, netting and set-off provisions in prime brokerage agreements for a number of investment banks.
“Richard Kelly is very responsive and helpful. He gives sound advice and is good to work with.”
Chambers Europe 2018
Richard Kelly is recommended for Capital Markets Debt.
Legal 500 2018
Qualified as a solicitor in Ireland
Qualified as a solicitor in England and Wales (non-practising)
University College Dublin (BCL with French law)
Trinity College Dublin (LLM)