Banking and Finance

Home Expertise Banking and Finance

Navigating complex markets

Our team advises on all aspects of New Zealand law that apply to borrowers and lenders in the bank and mezzanine loan markets; the delivery of complex projects; the entry into and operation of derivative contracts; and the regulation and delivery of financial services.

We understand how the New Zealand loan and derivatives markets work, the key participants and the important issues.

We also understand the relevance and impact of financial regulation to and on the effective and efficient delivery of financial services. We advise on licencing requirements, assist with application for exemptions and advise on the implementation of AML/CFT programmes.

Our team provides comprehensive advice to local market participants, inbound lenders and investors and inbound financial service providers.

Our experience includes advising on:

  • Leveraged and other acquisition financing.
  • Takeover finance.
  • Securitisations and repackaging transactions.
  • Structured derivatives.
  • Projects and asset finance.

Bank and Mezzanine Lending

Our corporate, leveraged and acquisition team advises commercial and investment banks, funds, private equity houses and borrowers across the full spectrum of New Zealand industry. Our experience includes:

  • The financiers to Bapcor's takeover bid for Hellaby Holdings Limited.
  • The bidder in respect of the takeover offer for NZX listed Abano Healthcare.
  • Acting for Credit Suisse as arranger and the related banking syndicates on various secured credit facilities provided to Rank Group (including Carter Holt Harvey, Reynolds and Autoparts groups).
  • Advising on lending/borrowing transactions involving Argosy, Vital, Precinct, Goodman, Kiwi, Stride, Scentre Group and NZPFI in the listed property space.

Project and Asset Finance

Our project and asset finance specialists advise banks and sponsors on traditional and PPP structures, with and without ECA elements. Recent transactions include:

  • Advising the banks of the Transmission Gully toll-road.
  • Advising the sponsor on the first two school PPP projects.
  • Establishing ELO and ECGD funding platforms.

Restructuring and Insolvency

Throughout insolvency or restructuring proceedings, our dedicated national restructuring and insolvency practice delivers the confidence our clients need. Our team of expert practitioners from across our practice areas, provide financial advice, corporate advisory and assistance with litigation.

Our trusted team provides advice to financiers, insolvency practitioners, special situations investors, trustees and companies. Recent work includes advising:

  • Receivers of the Pumpkin Patch retail group.
  • Senior financers in relation to Solid Energy New Zealand’s restructuring.
  • Senior record creditors on the New Zealand recognition proceedings (Chapter 11) for UCI Holdings.
  • Bath Street Capital in proceedings bought by Pyne Gould Corporation in respect of the sale of shares in Perpetual Trust Limited.
  • An investor in respect of its senior debt holding and shareholding in the Mediaworks debt for equity restructure.
  • The receivers of the Mainzeal Group.
  • The voluntary administrators and deed administrators of RED Group, including the Whitcoulls and Borders New Zealand retail chains.
  • The receivers of the Hurlstone Group.
  • Senior and subordinated lenders to the Yellow Pages Group.
  • The security trustee and senior banks in relation to the NZ Glass (Metroglass) restructure.

Rankings and awards

The Banking and Finance team is recognised as 'Band 1' by Chambers and Partners Asia-Pacific 2017, 'Tier 1' by The Legal 500 2017 and as 'Outstanding' by the 2017 Asialaw Profiles.

In addition, the Banking and Finance Capital Markets team was nominated as a finalist at the Australasian Law Awards 2016 within the NZ Deal Team of the Year category, and were recognised as part of the 2016 Institute of Finance Professionals New Zealand Inc (INFINZ) 'Excellence in Treasury' Award for their work with the NZ Local Government Funding Agency, as well as the 2015 INFINZ 'NZ Capital Market Issue of the Year' Award for their work on ASB Notes NZ$400m subordinate unsecured notes issued by ASB.

 

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