The Legal 500

Consistently noted for its strength in depth and value for money, Bell Gully delivers ‘extremely well-researched and appropriate advice’ which ‘stands the test of time’. Murray King advised Motor Trade Finances on its securitisation structure, and on the first rated note issue from a securitisation trust in the New Zealand market since the global financial crisis; and David McPherson advised SKYCITY Entertainment Group Limited on its NZ$400m syndicated refinancing. The firm is also advising the Department of Corrections on New Zealand’s first central government PPP, the Wiri Prison project.

Chapman Tripp is ‘a top firm’ with a ‘very good level of service’. The team has built on its strength in debt capital markets and covered bond work for domestic and international clients, including advising Rentenbak and ANZ as arranger on its NZ$50m bond offering. It also advised a syndicate of banks on unsecured bilateral facilities totalling NZ$500m to Genesis Energy, and acted for ANZ National Bank in its refinancing of dairy firm Synlait Milk following an equity investment by Shanghai-based Bright Dairy.

Russell McVeagh’s Guy Lethbridge is ‘very strong’, and played a leading role in structuring New Zealand’s first covered bond programme, including BNZ’s NZ$425m and BNZ-IF’s €1bn initial covered bond issues. Following Telecom New Zealand’s successful bid to deliver the government’s national fibre-to-home proposal, the firm is advising on all finance issues in relation to the demerger, which is the country’s largest in a decade.

The banking and finance team at Buddle Findlay is ‘accessible’, ‘easy to deal with’ and, for some, ‘more responsive’ than other firms with similar expertise. Peter Owles advised Bank of India on becoming a registered bank in New Zealand. Other major deals included advising GE Capital on its acquisition of commercial loan assets from Face Finance, and handling one of New Zealand’s largest recent private equity transactions, the British-based Intermediate Capital Group’s mezzanine financing of the acquisition of Tegel by a bidder consortium led by Affinity Equity Partners.

Mayne Wetherell has a well-regarded banking and finance practice. It acted for the senior financiers to the Yellow Pages Group on the creation of a new debt and equity structure. Will Tipping acted for Two Degrees Mobile Limited in relation to the project financing to fund expansion of its mobile network, and Dave Wetherell acted for BNZ and Westpac in respect of a NZ$200m standby facility for Combined Building Society.

Minter Ellison Rudd Watts’ banking and finance team is ‘exceptionally responsive’, ‘well versed in the sector and stable’. Chris O’Brien advised on the NZ$1.8bn Treasury guarantee of South Canterbury Finance Limited, while the ‘knowledgeable and reliable’ Kate Lane acted for KfW IPEX - Bank GmbH on financing aircraft for Air Lease Corporation to be leased to Air New Zealand. Other recent clients include Synlait Milk, Affinity Equity Partners, and PSIS.

The profile of Simpson Grierson’s debt capital markets group was recently raised by the appointment of Shelley Cave as an inaugural board member of the Financial Markets Authority. The firm also advised Local Government New Zealand on designing and establishing a local authority ‘bond bank’; and on some significant trans-Tasman private equity sponsored leveraged acquisitions, including the acquisitions of BJ Ball and Focus Paper, and the Euro Corporation.

Anthony Harper’s team, headed up by Nigel Oliver, has achieved growth against the background of a soft market. The firm won land registration work for Westpack; acted for Scales Holdings Limited in the refinancing of its existing Rabobank loan facilities and securities; and picked up local transactions from ANZ and BNZ in Christchurch.

Kensington Swan delivers an ‘excellent’ overall level of service. Catriona Grover advised Assure New Zealand Limited on simplifying its product offerings while maintaining an overall funds under management retention figure of 95%. Other highlights included advising Perpetual Trust Limited on the establishment of the NZ Funds KiwiSaver Scheme, and acting for CentrePort Limited on its NZ$203m revolving cash advance facility with Westpac Banking Corporation.