David Weavers

Partner

Banking and Finance

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Profile

David has years of experience advising financial institutions, private equity sponsors, corporate clients, non-bank lenders and sovereigns on a wide range of financing and restructuring transactions. David is a specialist in corporate and acquisition finance, asset finance, project finance (including development finance), debt capital markets, derivatives, venture capital and debt restructuring. David also 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.

Experience

David has worked on a number of landmark and market-defining transactions: including for Greece on its €206bn debt restructuring, for CVC on the first European LBO and dividend-recapitalisation using US-style financing terms, for HNA on the financing of its US$6.5bn acquisition of a stake in Hilton from Blackstone and for Goldman Sachs (Special Situations Group) and TPG Special Situations Partners on complex NPL transactions.

David's experience includes advising:    

  • A New Zealand private equity sponsor in relation to refinancing a portfolio company with operations in New Zealand and overseas.
  • ANZ New Zealand in relation to financing a New Zealand public company to make a significant bolt-on acquisition.
  • A bank syndicate in relation to the development financing provided to redevelop the Britomart precinct in the Auckland CBD.
  • A bank syndicate in relation to the development financing for the largest-to-date apartment development in the Auckland CBD.
  • A mezzanine lender and shareholder of a New Zealand foods manufacturing business in connection with its sale to an Asia-headquartered private equity sponsor.
  • 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.
  • Oaktree and Navis Capital in relation to the merger and subsequent refinancing of two established businesses, creating the largest fitness club group in Asia.
  • The special committee of the board of a Chinese headquartered US public company in relation to takeover defence and strategic alternatives (including a spin-off and structural separation).
  • A leading Chinese investment management firm as a cornerstone investor in a US$1.5bn pre-IPO funding round of Qiyi.com.
  • Hillhouse Capital Group in respect of a number of pre-IPO structured investments in the technology and biotech sectors.
  • A leading Asia-headquartered private equity sponsor in relation to financing its acquisition of a Singapore public company.
  • CVC in relation to a €400m (first-lien/second-lien) covenant-lite dividend recapitalisation and refinancing of a European foods business and an incremental debt raise.
  • Numerous credit investors on secondary debt transactions, including analysis around value leakage and possible restructuring scenarios.
  • A global private equity sponsor in relation to a possible bid for a portfolio of distressed debt across Asia.
  • ArcelorMittal in relation to its US$6bn global revolving credit facility.
  • A global private equity sponsor in relation to a bridge-to-bond financing for a possible bid for a European public company with investments across Africa.
  • 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.
  • 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 U.S. Innovative Lawyers Report 2012: Most Innovative in Finance; Legal Business Awards: Restructuring Team of the Year and Law Firm of the Year; Most Innovative U.S. Law Firm in Europe.
  • A multinational natural resources group in relation to refinancing US$5bn+ of debt with Russian banks.
  • The New Zealand financial markets regulator in respect of the establishment and authorisation of the NZX Derivatives Market for trading agricultural commodity futures products, including input on the rule set.
  • A leading European glass manufacturer on a €185m 144A/RegS high yield offering, internal group refinancing across Greece, Bulgaria and Romania and the redemption of its existing unsecured high-yield notes.
  • Consolidated Minerals on a US$400m 144A/RegS high yield offering, including intercreditor arrangements.
  • A sovereign wealth fund on a number of transactions including: credit derivatives, longevity derivatives, weather derivatives and bespoke trades documented using structured investment products.

Credentials

LLB, BCom, University of Canterbury

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

Professional

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.

 

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