Deals and Client Wins Maples Group Supports First US CLO Employing a Cayman Islands LLC

09 Sep 2019

The Maples Group was pleased to support the Issuer and the Co-Issuer on the Cayman Islands and Delaware, legal, listing and fiduciary aspects of its middle market collaterised loan obligation ("CLO").  The deal, which priced on 13 August 2019 at $US 501 million, was arranged by Natixis and had a novel legal structure, as it was the first ever US CLO transaction to employ a Cayman Islands LLC as its issuer. 

 

The Maples Group's law firm, Maples and Calder, led by Finance partner, James Reeve and associate, Jonathan Brown, acted as Cayman Islands legal adviser to the Issuer and also advised the Issuer and the Co-Issuer in respect of their listing of the debt securities on the Cayman Islands Stock Exchange.  Fiduciary services to both the Issuer in the Cayman Islands and the Co-Issuer in Delaware were also provided by the Maples Group's fiduciary team, led by Nicolas Rogivue in the Cayman Islands and Jeffery Everhart in Delaware.

 

The Issuer and the Portfolio Manager were advised by Dechert in the US. Natixis was advised by Allen & Overy and the Collateral Trustee, Loan Agent and Collateral Administrator were advised by Seward & Kissel.

 

Mark Matthews, Global Head of Finance at the Maples Group's law firm, commented: "We are very pleased to have been able to assist our longstanding client Bain Capital in closing this novel transaction, which exemplifies the Maples Group's comprehensive CLO offering, where we have the ability, through our international business offering, to provide innovative global legal, listing and fiduciary services for all aspects of a CLO manager's business."

 

In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now called the Maples Group, bringing together their internationally recognised services to address demand from clients for a complete and seamless service unique to the industry. The synergies between the law firm's global finance practice leveraged by the funds and fiduciary business lines ensures that the Maples Group are one of the few international organisations that can seamlessly service clients across multiple major global financial markets with a robust 'one-stop shop' for complex finance transactions.

CONTACTS

bioImage

James Reeve

Partner

+ 1 345 814 5129

bioImage

Jeffrey Everhart

Senior Vice President

+1 302 440 3657

bioImage

Jonathan Brown

Associate

+1 345 814 5620

bioImage

Mark Matthews

Partner

+1 345 814 5314

bioImage

Nicolas Rogivue

Vice President

+1 345 814 6111

*
*
*
*


Please note that your email may be received and read by other Maples Group employees in addition to your intended recipient.

The use of this form does not create an attorney-client relationship and information submitted will not necessarily be treated as privileged or confidential, nor will it prevent us from accepting related instructions on behalf of others. Do not send us any information regarding any current or potential legal matters until your proposed engagement of us as legal counsel has been agreed and confirmed by us in writing.

*
*
*

Please note that your email may be received and read by other Maples Group employees in addition to your intended recipient.

Related

Announcements

MPMF Expands Service Offering with Technology Enhancements

The infrastructure includes proprietary applications as well as industry-leading technologies to support the delivery of innovative solutions to alternative investment and UCITS funds. 

Read more

06 Aug 2020

Deals

Maples BVI Advises on US$1.5 billion Restructuring

The restructuring was supported by the successful appointment of the first ever provisional liquidators in the BVI. 

Read more

29 Jul 2020

Announcements

The Legal 500 EMEA 2020 Recognises Maples' Lawyers and Practices

Maples and Calder, the Maples Group's law firm, is pleased to share that The Legal 500 EMEA 2020 has recognised its lawyers and practices across its Dublin, Luxembourg and Dubai offices.

Read more

27 Jul 2020

Announcements

Maples Group Enhances Offering for Private Debt and Credit Funds

The Maples Group has announced enhancements to its fund services offering for private debt and credit funds via integrated IHS Markit loan market data feeds.

Read more

21 Jul 2020

Connect

Want to get in touch ?

Contact Us