David Weavers

David has years of experience advising financial institutions, private equity sponsors, corporates, non-bank lenders and sovereigns on a wide range of financing and restructuring transactions. David is a specialist in corporate and acquisition finance, project finance, property finance, debt capital markets, derivatives, venture capital and special situations investing. David has experience advising on all aspects of financial services regulation and providing strategic board-level advice.

Having been based in London and Hong Kong for an extended period with leading New York firms Cleary Gottlieb Steen & Hamilton LLP and Weil Gotshal & Manges LLP, David brings an international perspective to his practice and commitment to client service, together with a deep network and knowledge of market trends and developments.

David has successfully completed all three levels of examinations for the Chartered Financial Analyst (CFA) programme.

David has worked on a number of landmark transactions including: for Greece on its €206bn debt restructuring, for CVC on the first European LBO and dividend-recapitalisation using US-style covenant-lite financing terms, and for HNA on the financing for its US$6.5bn acquisition of a stake in Hilton from Blackstone. David has advised Goldman Sachs (Special Situations Group), TPG Special Situations Partners (including TPG's direct-lending platform) and Hillhouse Capital (China's largest private equity sponsor) on a number of transactions across the capital structure.

He has spent extended periods on secondment to banks and funds in a variety of legal and non-legal roles.

David is the firm's representative on the New Zealand APLMA documentation committee and has experience presenting at industry-wide events.

David's experience includes advising:   

Acquisition Finance

• Fonterra on the vendor financing for its sale of DFE Pharma to CVC.
• An Australasian private equity sponsor on its bid for Tip Top, including working with a number of financial institutions and debt funds on a senior/mezz package and a unitranche/super-senior RCF package.
• Pacific Equity Partners in relation to a number of existing investments and new opportunities.
• CPE Capital (formally CHAMP Private Equity) in relation to a number of existing investments and new opportunities.
• KKR in relation to the New Zealand aspects of its US TLB financing to acquire MYOB by way of scheme of arrangement.
• Riverside in relation to financing its acquisition of Hiway Group from Direct Capital.
• A direct-lender in relation to a US$55m financing to support an existing portfolio of New Zealand oil & gas assets and a significant acquisition.
• Nintex in relation to financing its acquisition of Promapp.
• ANZ in relation to financing a New Zealand private company to acquire businesses in Singapore and Thailand.
• Oaktree and Navis Capital in relation to the merger and subsequent refinancing of two established businesses, creating the largest fitness club group in Asia.
• HNA in relation to financing its US$6.5bn acquisition of a 25% stake in Hilton, the largest-to-date margin loan for a US public acquisition (American Lawyer Global Deal of the Year 2017: Acquisition Finance).
• A leading Asia regional private equity sponsor in relation to financing its acquisition of a Singapore listed company.
• CVC in relation to a €400m (first-lien/second-lien) covenant-lite dividend recapitalisation and refinancing of a European foods business.
• A global private equity sponsor in relation to a bridge-to-bond financing for a bid for a European public company with investments across Africa.
• ANZ in relation to financing a New Zealand listed company to make a significant bolt-on acquisition.

Corporate Finance  

• One of New Zealand's largest corporates in relation to its NZ$350m refinancing with international banks.
• ANZ in relation to financing transactions covering a variety of sectors (aged care, property, technology, primary industries and oil & gas).
• ASB in relation to financing transactions covering a variety of sectors (hospitality, aged care, manufacturing and financial services).
• The financiers in relation to the refinancing of Napier Ports prior to its IPO on the NZX.
• Kiwi Property Group in relation to its banking facilities.
• Swissport in relation to the New Zealand aspects of its €1bn+ bank/bond refinancing.
• BNZ in relation to financing an ASX listed property fund to acquire office buildings in the Auckland CBD.
• BNZ in relation to refinancing a New Zealand private equity sponsor's portfolio company.
• A New Zealand private equity sponsor in relation to an Australasian refinancing.
• A bank syndicate in relation to the development financing for the largest-to-date apartment development in the Auckland CBD.
• ArcelorMittal in relation to its US$6bn global revolving credit facility.
• A UK listed company in relation to a US$180m asset financing facility to develop an iron ore project in Sierra Leone.

Restructuring & Special Situations

• Greece in respect of its €206bn debt restructuring, the largest-ever bond exchange and largest-to-date sovereign debt restructuring (British Legal Awards 2012: European Legal Team of the Year; Financial Times US Innovative Lawyers Report 2012: Most Innovative in Finance; Legal Business Awards: Restructuring Team of the Year and Law Firm of the Year; Most Innovative US Law Firm in Europe).
• A multinational natural resources group in relation to refinancing US$5bn+ of debt with Russian banks.
• A global private equity sponsor in relation to a bid for a portfolio of distressed debt across Asia.
• TPG and Goldman Sachs (Special Situations Group) on a number of distressed and structured investments across the capital structure in a variety of sectors and geographies, including the acquisition of several portfolios of non-performing loans.
• Numerous credit investors on secondary debt trades, including analysis around value leakage and possible restructuring scenarios.

LLB, BCom, University of Canterbury

David has successfully completed all three levels of examinations for the Chartered Financial Analyst (CFA) programme.

David began his career with Russell McVeagh in 2008. David returned to the firm in late 2017 after an extended period based in London with Cleary Gottlieb Steen & Hamilton LLP and Hong Kong with Weil Gotshal & Manges LLP.

David is recognised in the Best Lawyers^® 2024 Guide for Banking & Finance and Structured Finance (New Zealand), as a 'Rising Star' in the IFLR1000 2022 Asia Pacific Guide for Banking, and as 'Up and Coming' in the Chambers and Partners Asia-Pacific 2023 Guide. David is also recognised as a Next Generation Partner in the Legal 500 2022 Guide for Banking and Finance. 

David has also recently published a chapter in the 2021 Chambers Global Practice Guide on Acquisition Finance in New Zealand.