Cases & Deals

Cosgrave Property Group restructures its debt

Client(s) Investment management firm

Jones Day advised an investment management firm in connection with the acquisition and subsequent restructuring of a portfolio of loans advanced to the Cosgrave Property Group ("CPG") and originally provided by Ulster Bank. €370 million of gross liabilities, including loans and swap liabilities, owed by CPG and secured on a portfolio of Irish commercial and residential properties was acquired by the investment management firm in May 2014. CPG's debts were subsequently restructured in October 2014, which involved the sale of €375 million of commercial property in Ireland to Green REIT Plc and the exit of other syndicated members.