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Deemple Budhia

Partner

Banking and Finance

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Profile

Deemple specialises in debt capital markets, securitisation (including covered bonds) and structured finance, financial markets regulation (including bank regulation, AML/CFT, consumer credit) and derivatives.

Deemple is an expert in navigating clients through complex financial transactions, and is regarded by her clients and peers as a focused partner and confident communicator. She acted on the establishment of the New Zealand Local Government Funding Agency (LGFA), its listing on the NZX in 2015 and its listed debt programme and AUD programme. Deemple has also advised on the establishment of numerous securitisation and covered bond programmes and issuances under those programmes.

In addition to Deemple’s capital markets experience, Deemple has a highly regarded financial markets regulation practice, with a focus on consumer credit, bank regulation and AML/CFT.

Experience

Deemple is a trusted advisor to major banks, listed companies and government clients including ANZ, ASB, Bank of New Zealand, Heartland Bank, Westpac, NZBA and LGFA. She regularly acts as issuer, arranger or manager counsel for capital markets transactions. 

Her transaction experience includes:

  • Acting for Goodman Property Trust on its $150 million green bond issuance.
  • Acting for UDC Finance on the establishment of its $2 billion warehouse securitisation and its inaugural term securitisation.
  • Acting for SG Fleet on the establishment of its New Zealand securitisation programme.
  • Advising various banks on consumer protection law, including the transition into the amended CCCFA regime.
  • Acting for Argosy Property on the first green bond issuance by a New Zealand corporate.
  • Acting for ANZ, ASB, BNZ and Westpac on the joint submission on the Reserve Bank's proposed RMBS structure for registered banks.
  • Acting for ASB on the establishment of its 144A programme.
  • Acting for Heartland Bank on its wholesale AUD Tier 2 issue.
  • Acting for ASB and CBA on both their retail Tier 2 issues and Additional Tier 1 issues.
  • Acting on the establishment of LGFA and its on-going funding requirements (including listing its bonds on the NZDX in 2015 and establishing its QFP and stock lending platforms).
  • Acting for warehouse lenders and mezzanine lenders on numerous warehouse securitisations.
  • Acting for all the arrangers on each of the term issuances under Resimac's RMBS programme.
  • Acting for ANZ on the sale of UDC Finance.
  • Acting as either arranger or issuer counsel on both listed and unlisted debt capital markets issues.
  • Acting for ANZ, BNZ, ASB and Westpac on the transition of their derivatives businesses into the FMCA (including preparing all their respective PDSs).
  • Acting for ASB on the establishment of its UK listed covered bonds programme and issuances under the programme.
  • Advising on the application of legislation for capital instruments and derivatives under the FMCA, covered bonds and the banking handbook.

Credentials

LLB (Hons), BA, University of Auckland.

Professional

Prior to joining Russell McVeagh, Deemple spent several years in London working in the securitisation team at Allen & Overy and then as an originator in Citibank’s European commercial property and securitisation team. She was admitted to practise in New Zealand in 1998.

Deemple is a member of the New Zealand sub-committee for the Australian Securitisation Forum, and a member of the NZ Markets Disciplinary Tribunal (NZMDT) – an independent regulatory body that ensures the integrity in our markets is maintained through determining whether an issuer or market participant has breached NZX’s market rules. 

She is author of the New Zealand chapter in The International Capital Markets Review 9th Edition; the New Zealand Securitisation chapter for Chambers and Partners 2022 Global Practice Guides and the New Zealand chapters within The Law Review's Virtual Currency Regulation Review (editions 1, 2, 3 and 5).

Deemple is recognised as a 'Band 1' lawyer by the Chambers and Partners Asia-Pacific Guide 2022 and is 'Highly Regarded' for Capital Markets: Debt and Capital Markets: Structured Finance and Securitisation by the IFLR1000 2022 Guide. She is also recognised by Legal 500 2022 Asia Pacific Guide as a 'Leading Lawyer' in Banking and Finance. Deemple was named 'Lawyer of the Year' for 2023 and 2022 by the Best Lawyers® New Zealand Guide for Structured Finance Law, and was also recognised in the fields of Banking and Finance Law, Capital Markets Law and Debt & Equity Practice.

Deemple is one of IFLR1000's 'Women Leaders' in 2022, and was named 'Best in Structured Finance and Securitisation' two years in a row by Euromoney's Women in Business Law Awards APAC 2021 and 2020.

Client feedback in the Chambers and Partners 2022 Guide emphasised Deemple's expertise in Banking and Finance, stating that Deemple is "really good at focusing on the main points and giving clear advice with technical legal and analytical skills". Feedback in Legal 500's 2022 Guide referred to Deemple as "highly competent".

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