Chris McGarry
Biography
Overview
Chris McGarry advises arrangers, sponsors and issuers on collateralised loan obligations, residential mortgage-backed securities, commercial mortgage-backed securities and esoteric asset classes such as commodities and whole-business securitisations.
Chris also advises clients on ESG and sustainability matters including all aspects of the European Green Deal. Chris served as a Knowledge Partner to the G20 Sustainable Finance Study Group and in this role co-authored the G20 white paper on sustainable finance the main recommendation in which was adopted by the European Central Bank in 2021. Chris has also partnered with UN Women to develop the model for sovereign gender equality bonds.
In the latest edition of Legal 500 UK 2022, clients say 'Chris McGarry is technically superb, commercially astute and a thoroughly nice person to work with', and 'Chris McGarry, has exceptional knowledge of the market, identifies key commercial, legal or regulatory issues early on and is able to effectively lead the team to deliver under tight deadlines.'
Experience
Representative transactions include advising:
- BNP Paribas as arranger of Grosvenor Place CLO 2022-1 for CQS. This was the first Article 8 CLO, adopting the model first proposed by White & Case in a client alert in 2021.
- BNP Paribas as arranger of Carlyle EURO CLO 2022-5 for Carlyle.
- Morgan Stanley as the arranger of Fidelity Grand Harbour CLO 2022-1 for Fidelity.
- Goldman Sachs as arranger of CVC Cordatus Loan Fund XXIV for CVC.
- J.P. Morgan as arranger of the refinancing of Avoca CLO XVII for KKR.
- Bank of America as arranger of the refinancing of Marino Park for Blackstone.
- Credit Suisse as arranger of the reset of Dryden Euro CLO 79 for PGIM.
- Morgan Stanley as arranger of Neuberger Berman Loan Advisers Euro CLO 1 for Neuberger Berman. This was the first CLO to include objective definitions and reporting in respect of ESG obligors in the portfolio, adopting the model first proposed by White & Case in a client alert in 2019.
- Morgan Stanley as arranger of Carlyle Euro CLO 2020-2 for CELF Advisors LLP. This was the first securitisation of any asset class to close post-Brexit and as such was structured to comply with both the UK Securitisation Regulation and the EU Securitisation Regulation.
- The Bank of England and The People's Bank of China as Knowledge Partner to the G20 Sustainable Finance Study Group responsible for proposing new global rules for sustainable securitization.
- Habito as the originator and servicer of various UK RMBS transactions.
- The ad hoc committee of bond holders on the restructuring of the Trafford Centre CMBS transactions.
- Trafigura on the establishment of the world's first "true sale" commodities securitisation programme financing crude oil and refined metals inventories in jurisdictions across Europe, the Middle East and Asia-Pacific.
- The Government of Ghana on the establishment of the E.S.L.A energy levy securitisation programme.
- Zodiac Holdings, LLC and Nucleus Investments, LLC as risk retainers in respect of the CMBS notes issued by ERNA S.R.L.
- Barclays on the securitisation aspects of Shop Direct Funding plc's debut Senior Secured Notes offering.
The Lawyer Hot 100 2020 – Chris McGarry
Legal 500 UK "Leading Individual for Securitisation" (2023, 2022, 2021, 2020, 2019 and 2018)
Shortlisted for ESG Deal of the Year
GlobalCapital Awards 2023
Winner STANDOUT deal in 'accessing new markets and capital'
FT Innovative Lawyers Awards Europe 2018
Individually "Commended"
FT Innovative Lawyers Awards Europe 2018
Winner Commodity Trading Company Deal of the Year
TXF Awards 2018
Winner Best Deal
Trade Finance Awards 2018
Winner Best Deal
Global Trade Review Awards 2018
Winner Structured finance and securitisation deal of the year 2018
IFLR Asia
Winner Finance Team of the Year 2017
Legal Business 2017*
Winner High Yield Deal of the Year 2017
IFLR 2017*
