Ashurst advises on securitisation of Irish non performing residential mortgages in excess of 1bn

The securitisation transaction was arranged and lead managed by Goldman Sachs and issued via a Reg S and 144A offering of securities by Portman Square 2021 – NPL1 Designated Activity Company, listed on the Irish GEM, namely €365,480,000 Class A, €32,480,000 Class B, €684,796,000 Class Z Notes.

The Ashurst team was led by partner Jonathan Walsh, with support from counsel Zena Kukreja and associate Henry Hillind.

"We are delighted to be selected as Seller counsel and to be involved in the successful closing of such a sizeable and important NPL transaction," partner Jonathan Walsh said.