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Maples Group Supports First CLO Migrations to Jersey

17 Mar 2022

The Maples Group is pleased to have recently supported an increasing number of Jersey collateralised loan obligations ("CLOs") transactions featuring a continuation[1] of a Cayman Islands warehouse entity into Jersey.


A team of CLO lawyers and fiduciary professionals based in the Group's Cayman Islands, Jersey and Delaware offices are currently providing Cayman Islands and Jersey legal counsel in addition to Cayman Islands, Jersey and Delaware corporate services to support the successful migrations of these CLO transactions.


Jersey has been widely accepted as the leading alternative jurisdiction solution for US CLO issuers looking to market deals to investors in the EU, and continues to attract interest from arrangers and managers of structured finance products with over 50 CLO transactions on track to either incorporate in, or to migrate to, Jersey in Q1 2022. 


Global Head of Finance at Maples Group, Scott Macdonald commented: "We are delighted to have assisted on the successful completion of these transactions including the first CLO featuring a Jersey continuation. The market has responded positively to the use of Jersey as an alternative jurisdiction for CLO transactions and we expect the closing of these notable transactions will inspire further confidence in the future use of Jersey by CLO and other structured product market participants. Importantly, the Jersey Regulator and Jersey Companies Registry continue to provide efficient and reliable services which also supports the smooth closing of these transactions."


The Maples Group's global CLO team has over 20 years of hands-on experience and provides Cayman Islands, Jersey and Irish legal advice and CLO issuer / co-issuer and fiduciary services in the Cayman Islands, Delaware, Dublin, Jersey, London and the Netherlands.  The team provides clients with unparalleled knowledge, experience, and insight into what is happening across the whole structured finance market, from the latest warehousing structures, to the latest regulatory developments and how they impact CLOs, to ongoing post-closing CLO issues.

A continuation involves the legal migration of an overseas company or body corporate to another jurisdiction and is also known as a (re)domestication of the corporate seat of a company

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Advising on the laws of the BVI, the Cayman Islands, Ireland, Jersey and Luxembourg, our global Finance team provides expert legal advice on even the most complex financial transactions under intense time pressure. Clients repeatedly return to our qualified finance lawyers to handle a variety of complex matters relating to acquisition and leveraged financing, asset finance, banking, debt capital markets, derivatives, fund finance, insurance linked products, Islamic finance, repackaging and structured finance.