Callaghan is a partner of Maples and Calder's Finance team in the Maples Group's Dublin office. Callaghan advises arrangers, managers, investors and issuers on a wide range of finance, debt capital markets and structured finance transactions. He focuses particularly on structured products, such as CLOs and other asset backed securitisations, commodities, utilities, marketplace lending and other alternative asset class financings, as well as on repackagings and other programme issuers. Callaghan also advises on fund-linked structures, such as managed account platforms, loan funds and debt funds. He regularly advises on wider financial services and regulatory law, both in relation to regimes that impact structured finance transactions‒such as STS, securities offerings, market abuse, EMIR and risk retention‒ and on issues generally affecting financial services firms, such as like licensing and establishment, change of control and ongoing regulatory compliance.
Maples Group
Maples Group's practice is 'market-leading in the structured finance and securitisation space in Ireland', and is equally strong in handling cross-border work in the capital markets space. The firm is widely recognised for its expertise in advising on CLOs, and the Dublin-based group is often instructed by US, UK, Irish and other EU managers on matters relating to CLO platforms. The department is also prolific in non-performing loan (NPL)-related issues, warehouse lending and repackaging programmes, and is well placed to advise global asset and specialist investment managers on creating specialist Irish SPV issuer platforms. Practice head Stephen McLoughlin brings extensive experience in handling CLOs, RMBS transactions, NPLs and repackaging programmes. Callaghan Kennedy has an excellent track record in assisting with asset-backed securitisations and CLOs.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘I've worked with Maples for a number of years. Compared to other counsel, they have a fantastic overview of the market and therefore are very helpful advising as to new local law matters and how the market is dealing with them, and they do this in an incredibly pragmatic fashion.’
‘Cal Kennedy is stand out - he is key in providing the above mentioned service, and always takes time to personally update on new matters.’
‘I think that Maples Group, considering both the legal and corporate services side, are the #1 choice in the industry and recommend/try to engage them on any transaction where such a party is needed. They know the landscape, regulations, are very competitive from a commercial perspective, and most importantly for these transactions are very timely.’
‘Very knowledgeable and helpful, especially Callaghan Kennedy out of the Ireland office. I think especially the Ireland team are the best among corporate service providers as they offer both corporate services and legal input in one package and do so very reliably.’
‘Excellent global reach across the capital markets and structured products space.’
‘Cal Kennedy (partner) and Stephen McLoughlin (partner) head up a skilled and streamlined structured credit practice.’
‘The team is market-leading in the structured finance and securitisation space in Ireland. We find them more responsive and more knowledgeable than other Irish firms active in this space particularly where acting for credit funds and private capital vehicles (i.e. they have a reputation mostly for advising funds rather than banks).’
‘We use Stephen McLoughlin and Cal Kennedy for everything which has an Irish structured finance/securitisation component. They are both excellent: thoughtful, knowledgeable about the market and easy to work with. Streets ahead of their competitors in the securitisation space.’
Key clients
- CVC Credit Partners
- Palmer Square Capital Management, LLC
- Goldman Sachs International
- TwentyFour Asset Management LLP
- Waterfall Asset Management, LLC
- Midcap Financial
- Cabot Financial (UK) Limited
- Transmission Finance DAC
- Goldentree Asset Management
Work highlights
- Advised CVC Credit Partners on the CVC Cordatus Loan Fund XXVI.
- Assisted Twenty Four Asset Management in relation to the UK RMBS Hops Hill No. 2 plc.
- Advised Small Business Loan Origination Trust 2023-1 DAC on its UK STS-compliant SME ABS loans originated on the Funding Circle platform.
Lawyers
Next Generation Partners: Capital markets: Debt
Practice head
The lawyer(s) leading their teams.
Stephen McLoughlin