Davy Corporate Finance is Ireland’s largest corporate finance adviser.
We work with domestic and international public, private, commercial and semi-state entities, combining innovative advice and proven execution skills, to provide a complete range of integrated corporate finance services.
Davy's Debt & Specialist Finance team is the largest in Ireland. We act for both borrowers and investors in the global debt markets.
We are active traders in all sovereign bonds and global credits, and are primary dealers of Irish government bonds.
Our Institutional Services are supported by innovative, timely and commercial ideas based on our knowledge and understanding of the companies we cover and the industries in which they operate.
For more than 85 years, Davy has been committed to serving charitable organisations.
Davy Charities offers comprehensive investment solutions across the Charity, Not-For-Profit, Endowment and Philanthropic investment landscape.
Davy has over 15 years' experience in the credit union market in Ireland, and can offer investment expertise and assistance in relation to regulatory and market developments.
Our dedicated Credit Unions team provides a choice of service offerings to meet the individual requirements of each Credit Union.
Davy offers a competitive share dealing service for Employee Share Option Plans (ESOP).
We have a highly qualified and experienced ESOP team dedicated to assisting members of company share plans. Services include Approved Profit Share Schemes, Employee Share Option Schemes, Restricted Stock Unit Schemes, and Save As You Earn Schemes.
Company: Green REIT plc
Transaction: Firm Placing, Placing and Open Offer to raise aggregate proceeds of €400m.
Davy Role: Joint Bookrunner and Joint Sponsor
Davy had previously advised Green REIT in July 2013 when the newly-formed company raised €310m and had its shares listed on the Irish Stock Exchange and London Stock Exchange. Green REIT was Ireland’s inaugural Real Estate Investment Trust (REIT), the first company to take advantage of the newly introduced REIT regime which was introduced by the government in April 2013. Working closely with the Company, Davy guided it through its Admission process and executed the successful fundraising, raising €310m from an international institutional investor base with the issue surpassing an original target raise of €200m after strong demand. Following its listing, Green REIT successfully deployed this initial capital raise in acquiring a number of investment properties through both on and off-market transactions, including the acquisition of office blocks at Central Park in Leopardstown, Dublin which represented the single largest asset transaction at the time for NAMA.
In April 2014, Green REIT announced that it intended to raise further capital, seeking to capitalise on the opportunities presented by both current and expected market conditions, with a view to building its portfolio of high quality assets from which it could deliver attractive returns for its shareholders. The announcement followed months of preparation, with Davy again working closely with Green REIT management to ensure a smooth and efficient execution of its fundraising plans.
The April 2014 Firm Placing, Placing and Open Offer raised gross proceeds of €400m for Green REIT and provided it with the firepower to acquire a substantial portfolio of high quality Dublin commercial real estate assets for €375m in June 2014.
After incorporation in June 2013, within the space of twelve months Green REIT had raised €710m through these two equity offerings and invested approximately €750m in assembling its investment portfolio. Working with Davy, Green REIT was able to access significant funds through the equity capital markets – a prime example of the effective allocation of investor funds to a company to allow it to execute a business plan with a compelling investment proposition.
At Davy we are committed to making a difference to the business success of our clients. Contact us today to discuss how we can help.