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: National Lottery
Transaction: €405m Lottery Licence Sale
Davy Role: Financial Adviser to the Department of Public Expenditure and Reform (“DPER”)
In February 2014, Davy completed the sale of a 20 year National Lottery licence on behalf of the State to a consortium for €405m. This followed a c. 24 month engagement with the DPER comprising two distinct mandates.
Following a competitive tender process, Davy was retained by the DPER to carry out an analysis and prepare a consultation report in relation to the possible options for the State relating to the next National Lottery licence. This involved assessment of the market conditions for a possible sale of a licence, scenario analyses to inform the appropriate structuring of the next licence, risk factor analysis, valuation methodologies and the provision of a recommendation to the DPER based on Davy’s findings.
Davy prepared a detailed business case and financial model and conducted a broad market consultation before presenting its key findings and a recommendation to the DPER.
Davy was appointed to implement the recommended option and to design a 20 year National Lottery licence for sale to a secure an up-front receipt of funds for the State while safeguarding a number of important policy issues. Some of the key workstreams involved included:
The transaction culminated in the announcement 27 February 2014 by the Minister for Public Expenditure and Reform that the next licence to operate the National Lottery was granted to Premier Lotteries Ireland for €405m, half of which is earmarked for the construction of a new Children’s Hospital.
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