Matheson is pleased to have advised Ireland’s largest non-bank lender, Finance Ireland, on an STS Securitisation of a portfolio of Irish auto finance receivables with a value of approximately EUR 365,000,000. The transaction was the largest ever securitisation of Irish auto loans and was governed under Irish law.
The Matheson team was led by Finance and Capital Markets Partner, Vincent McConnon, together with Emily Ashford, Shane Kelly, Alexander Macaulay, Alan Bunbury, Kevin Smith, Saskia Kirrane, Ian O’Mara, Kevin Burns, Carlo Salizzo, Chris Hutchinson, Kevin Gahan and Erika Cummins.
Finance Ireland Auto Receivables No. 2 is an ABS transaction backed by a pool of new and used auto finance receivables. The portfolio predominantly comprises consumer hire-purchase agreements, plus a smaller proportion of non-consumer hire-purchase and personal contract plan agreements. The assets were originated by Finance Ireland Credit Solutions DAC to private retail and commercial clients in Ireland.
