Banking and finance in New Zealand

Bell Gully

Bell Gully is considered a leading practice across many sectors of the finance market, including debt capital markets, corporate and acquisition finance, securitisation, infrastructure funding and project finance. Last year, the firm saw increased activity in acquisition funding amidst robust M&A activity, New Zealand dollar-denominated debt by offshore issuers, advisory work and securitisation. The firm acts for a range of large domestic companies, including Air New Zealand, and a host of regional and international banks such as Bank of New Zealand, Commonwealth Bank of Australia and Deutsche Bank. Leading derivatives expert David Craig in Wellington leads the practice, which has standout performers including project finance specialist Hugh Kettle and, in Auckland, David McPherson, who is a key player in debt restructurings, and Murray King, who is a leading light in the growing securitisation market.

Practice head(s):

David Craig

Other key lawyers:

David McPherson; David McPherson; Hugh Kettle; Jennifer Gunser

Testimonials

“It is a strong full-service firm, very professional.”

“David Craig is very professional and a subject matter expert in financial regulation.”

“The responsive and pragmatic support of the Bell Gully banking team was invaluable leading to a positive outcome for our business.”

“Murray King is a key trusted advisor to our business. I know he will provide considered and thoughtful solutions-focused guidance on complex business issues.”

Key clients

Air New Zealand

ANZ Bank New Zealand

Bank of New Zealand

Commonwealth Bank of Australia (including ASB Bank)

Eclipx (previously FleetPartners)

Fletcher Building

JP Morgan

Deutsche Bank

Reserve Bank of New Zealand

The New Zealand Treasury

SKYCITY Entertainment Group

Vector

Buddle Findlay

Buddle Findlay is one of only two firms with significant banking and finance expertise in all three key economic centres of Auckland, Wellington and Christchurch. Its high-end work encompasses project and infrastructure finance, leveraged and acquisition finance, securitisation, regulatory advice, agriculture finance, property finance and local government matters. It also has the leading aged care finance practice. Among its key clients are all major New Zealand banks, domestic branches of overseas banks, non-bank financial institutions and major corporate groups. Paul Farrugia leads the practice from Auckland and is known for syndicated lending, acquisition and leveraged finance, and development finance, while Peter Owles is a market leader in project and infrastructure finance. Miriam Andrews for funds and alternative capital matters and Terence Ng for Asian inbound and outbound investment are also driving forces within the practice.

Practice head(s):

Paul Farrugia

Other key lawyers:

Peter Owles; Miriam Andrews; Terence Ng; Daniel Collins; Kerry Beaumont; Jan Etwell; Simon Jensen

Testimonials

“The team, particularly Paul Farrugia and Daniel Collins, is very commercial , understands what’s important to the bank, meet deadlines and explain key concepts.”

“The firm has the ability to provide multiple language services and understands alternative communication methods to cater to different cultures. This makes the team unique among its peers.”

“Terence Ng and Kelly Zhang are wonderful legal counsels who are willing to put themselves into the client’s shoes and provide consistent, effective, professional responses.”

Key clients

Bank of New Zealand

ANZ Bank New Zealand Limited

Industrial and Commercial Bank of China (New Zealand) Limited,

Sky Network Television (Listed Media Company)

Maui Capital (Private Equity)

Adamantem Capital (Private Equity)

Pencarrow (Private Equity)

Morrison & Co (Infrastructure asset manager)

Westpac NZ Limited

Kiwibank Limited

Rabobank

Infratil (Listed Infrastructure Investor)

NZ Commercial Ventures Limited, a Goldman Sachs Subsidiary

Bank of India

Commonwealth Bank of Australia

Ngai Tahu, Investment Vehicle

China Construction Bank

Bank of China

Work highlights

  • Acted for Contact Energy Limited in all legal aspects involved with putting together its US$69m retail Green Bond offer.
  • Acted for the facility agent, security trustee and the lenders – Bank of New Zealand (“BNZ”) and ANZ Bank New Zealand Limited – in relation to an acquisition facility to be provided to Xero Limited to acquire Hubdoc.
  • Acted as lead counsel for the banking syndicate and the Arranger in relation to the restructure of the existing Eclipx warehouse structure and the establishment of a new securitisation trust for the new bond issue.
  • Advised ANZ Bank as facility agent, arranger, security trustee and lender in respect of documentation of a new NZ$355m syndicated loan facility for Northland-based geothermal energy producer Top Energy Limited.
  • Acted for Bank of New Zealand in relation to the facilities provided to Pioneer Capital to fund the majority shareholding in The Rees Management Limited, which is the management company for The Rees Hotel Queenstown.

Chapman Tripp

Chapman Tripp acts for  local and international banks, as well as market-leading issuers, investors, arrangers, trustees and custodians, in some of the most significant financings in the New Zealand market. Last year, it acted for a syndicate of nine banks in the restructuring of Fletcher Building’s syndicated lending arrangements. In corporate finance, debt capital markets and infrastructure financing it is firmly among the market leaders. Cathryn Barber leads the practice from Auckland, where Ross Pennington is a leading light in capital markets and structured finance. Newly promoted partner Gerard Souness and rising star associate Luke Ford are also recommended. In Wellington, 30-year corporate finance veteran Mark Reese and Emma Sutcliffe, whose practice encompasses debt issuance and bilateral bank financing, are the standout partners.

Practice head(s):

Cathryn Barber

Other key lawyers:

Mark Reese; Ross Pennington; Emma Sutcliffe; Gerard Souness; Leigh Kissick; Luke Ford

Key clients

ANZ Bank New Zealand Limited

Chorus New Zealand Limited

Westpac New Zealand Limited

Bank of China (NZ) Limited

Housing New Zealand

Lyttelton Port Company Limited

Summerset Group Holdings Limited

China Construction Bank (NZ)

Christchurch City Holdings Limited

Kiwibank Limited

Work highlights

  • Advised ANZ as agent and its nine syndicate banks on the restructure of Fletcher Building’s syndicated lending arrangements.
  • Advised Chorus New Zealand on an issue of NZ$500m, ten-year, re-setting fixed rate bonds to a combination of NZ retail investors and international wholesale investors.
  • Advised Westpac on the financing arrangements of an SPV for the acquisition of two significant Todd Energy power assets.
  • Advised Bank of China NZ on all the NZ law aspects related to its participation in a global series of issuances by Bank of China entities, as part of China’s ‘Belt and Road’ initiative.
  • Advised Housing New Zealand, a AA+ rated Crown Agency, on establishing its MTN programme and undertaking its inaugural issuances of NZ$800m in aggregate across three tranches, with maturities ranging from five to 10 years.

Mayne Wetherell

Mayne Wetherell in Auckland is 'the top firm in banking and finance', according to one source. The firm is widely recognised as one of New Zealand’s leading banking and finance firms, particularly in capital markets, structured finance and securitisation, leveraged and acquisition finance, and syndicated and bilateral financing, both secured and unsecured. The practice, led by acquisition financing and special situations specialist Will Tipping, is on the legal panel of all major banks, and provides advice on all banking and finance activities to New Zealand’s largest company, Fonterra Co-operative Group Limited. Standout partners Dave Wetherell, DCM and securitisation specialist Mei Nah and structured finance expert Daniel Meikle were joined by experienced special counsel Cameron Peachey from Meredith Connell.

Practice head(s):

Will Tipping

Other key lawyers:

Dave Wetherell; Mei Nah; Daniel Meikle

Key clients

Auckland Council

Fonterra Co-operative Group Limited

Auckland International Airport Limited

Transpower New Zealand Limited

Bank of New Zealand

Westpac New Zealand Limited

ASB Bank Limited

Quadrant – QPE Investment Pty Ltd

ANZ Bank New Zealand Limited

Two Degrees Mobile Limited

Work highlights

  • Acted for Fonterra in relation to its issue of US$200m of USPP notes to various investors.
  • Acted for Fonterra in relation to its term loan facility for 1 year of CNH600m to refinance existing debt and for general corporate purposes.
  • Advised Macquarie Principal Finance as Purchaser / Concession Holder in the  NZ$220m acquisition of a 30-year concession to operate SKYCITY’s car parks in Auckland.
  • Acted for Auckland Council in relation to its offer of NZ$200,000,000 of unsubordinated, fixed rate bonds.
  • Acted for Auckland Council in relation to the efinancing of its existing NZ$800,000,000 committed cash advance facilities agreement.

MinterEllisonRuddWatts

MinterEllisonRuddWatts sits on the panels of all of New Zealand’s major trading banks, which account for approximately 90% of the country’s retail and commercial banking. It also acts for other large financial institutions including Kiwibank and HSBC. The firm has particular expertise in infrastructure finance, having acted in all of the country's major PPPs; asset finance; leveraged finance; and financial restructuring. Led by restructuring and insolvency specialist Michael Langdon, the Auckland practice has outstanding partners in Kate Lane, whose areas of expertise include institutional finance and consumer finance; and project finance expert Tom Fail. Rising star senior associates Marie Kissick and Vanessa Hunter are also recommended. Chris O’Brien in Wellington advises banks, major corporates, and trustee companies on corporate finance, cross-border leveraged lease transactions and retail debt offers.

Practice head(s):

Michael Langdon

Other key lawyers:

Kate Lane; Tom Fail; Chris O’Brien; Steve Gallaugher; Marie Kissick; Vanessa Hunter

Testimonials

“MinterEllisonRuddWatts has excellent project finance capabilities with excellent knowledge and capabilities across construction, project documents, and financing. They are very easy to work with, highly commercial and effective at getting deals done.”

“Tom Fail is an excellent partner. He is very responsive and very commercial. He also understands what is important to banks in a deal, particularly for complex project financings.”

“This team seeks to really understand its clients’ business needs and priorities, and prepare their advice accordingly. They are true partners to their clients. They have a depth of expertise across their banking and finance practice, and they allocate resource effectively with good senior/partner presence whenever it is needed.”

“Kate Lane is technically excellent, very engaged and proactive, and gives pragmatic, commercially relevant and timely advice. She is helpful with updates on relevant legal developments with a clear appreciation of their impact.”

Key clients

ANZ Bank New Zealand Limited (Big Four) / UDC Finance Limited

ASB Bank Limited (Big Four)

Bank of New Zealand (Big Four)

HSBC Bank New Zealand Limited

Kiwibank Limited

Brookfield Infrastructure Group (Australia) Pty Limited and Infratil Limited

The New Zealand Treasury

Westpac New Zealand Limited / Westpac Banking Corporation (Big Four)

Accident Compensation Corporation (ACC)

Deutsche Bank AG

Work highlights

  • Advised Accident Compensation Corporation (ACC) on a complex model of financing bulk housing infrastructure to bring forward the development of approximately 9000 houses at Wainui, north of Auckland.
  • Acted as New Zealand counsel for the lead arrangers and global banking syndicate in relation to the NZ law aspects of the refinancing of the Owens-Illinois Group.
  • Acted for Hengyi Pacific in relation to the senior and mezzanine financing of its Pacifica apartment and hotel development in central Auckland.
  • Acted for the six Mandated Lead Arrangers, Underwriters and Bookrunners selected by the purchasing consortium comprising Brookfield Infrastructure Group (Australia) Pty Limited and Infratil Limited in debt financing arrangements for the acquisition of Vodafone New Zealand Limited.
  • Assisted Summerset Management Group Limited with obtaining bank facilities in Australian dollars to fund activities in Australia.

Russell McVeagh

Russell McVeagh is a key player in debt capital markets, project finance, financial markets regulation, and corporate and acquisition finance. In the DCM market, the firm handled landmark transactions last year, including the largest single issue of bonds in New Zealand by a non-sovereign issuer, and the first green bond offered by a New Zealand corporate entity. Debt capital markets and financial regulation specialist Guy Lethbridge in Wellington leads the practice. In Auckland, Deemple Budhia is a leading light in DCM, securitisation, covered bonds, derivatives and regulatory matters. John Powell's skills include asset, development, corporate and acquisition finance. Newly promoted partner David Weavers  is a leading corporate finance specialist.

Practice head(s):

Guy Lethbridge

Other key lawyers:

Deemple Budhia; John Powell; Tom Hunt; David Weavers; Debbie Booth; Bevan Peachey; Lucy Becke; Ling Yan Pang; Jesse Fairley

Testimonials

“In my interactions with the partners I have been impressed with that they are prepared to challenge previous documents if they believe there is better way, for the client and bank, as well as highlight any deficiencies which could place the bank at risk.”

“John Powell’s intellect and calmness come through in discussions and negotiations. He provides insights by thinking about a situation in more than superficial way.”

“The legal advice provided by this team is superb. The team’s knowledge of the law is outstanding which gives us a huge sense of confidence each time we deal with them. In addition, they are forward thinking in their advice and able to think outside the square.”

“Deemple Budhia, Tom Hunt and Ian Beaumont are all incredibly personable which makes liaising with them easy. Advice received is always of a high standard and written clearly and concisely.”

Key clients

New Zealand Local Government Funding Agency Limited (LGFA)

Argosy Property Limited

Heartland Bank Limited

ASB Bank Limited

Tasman District Council (Council)

WEL Networks Limited

Westpac New Zealand Limited

Ports of Auckland Limited

The Riverside Company (global private equity sponsor)

Enviro NZ

Work highlights

  • Represented New Zealand Local Government Funding Agency (LGFA) on its debut $1bn syndicated offer of bonds, the largest single issue of bonds in the New Zealand domestic debt market by a non-sovereign issuer.
  • Represented Argosy Property Limited on its inaugural capital markets issuance of NZ$100m fixed rate senior secured green bonds, which included a priority offer for Argosy’s retail shareholders.
  • Represented Heartland Bank on its corporate restructure by way of a court approved scheme of arrangement.
  • Advised Tasman District Council on the  NZ$105.9m funding of the new Waimea community dam.
  • Advised WEL Networks Limited on all aspects of its NZ$150m offer of subordinated notes that were quoted on NZX.

Anthony Harper

Anthony Harper's practice, led from Christchurch by Nigel Oliver climbs the ranking due to its strong presence on six major bank panels - including ASB Bank Limited, Bank of New Zealand, Bank of China (New Zealand) Limited - as well as its growing workload for Chinese banks and non-bank lenders. The firm excels in property finance, asset and equipment finance, acquisition finance, agriculture finance, factoring, project finance and asset recovery. It also has key expertise in fisheries, manufacturing, viticulture and other primary industries. In Auckland, Grant Goldsmith handles complex property and corporate finance matters. Senior associate Pip Breitmeyer in Christchurch and, in Auckland, financial services partner Nick Summerfield associate Alice von Batenburg are also recommended.

Practice head(s):

Nigel Oliver

Other key lawyers:

Grant Goldsmith; Nick Summerfield; Crispin Vinnell; Pip Breitmeyer; Alice von Batenburg

Testimonials

“We find Anthony Harper to be very responsive, delivering accurate and complete documentation in a very timely manner. They respond to questions and requests for advice with easy to understand information and recommendations as to the course to be followed.”

“In their individual areas of expertise, Pip Breitmeyer, Nigel Oliver and Crispin Vinnell are very personable, approachable and knowledgeable. They never make you feel you are interrupting and invariably provide excellent advice and a high quality of work.”

“The firm is accessible, responsive and sympathetic to the needs of our industry.”

 

Key clients

ASB Bank Limited

Bank of New Zealand

Dealer Finance Limited

Gold Band Finance Limited

Hilton Haulage LP

New Zealand Comfort Group Limited

Mutual Credit Finance Limited

Scales Corporation Limited

Westpac New Zealand Limited

bStudio Limited

Inno Capital Limited

China Construction Bank (New Zealand) Limited

Bank of China (New Zealand) Limited

New Zealand Government

Industrial and Commercial Bank of China (New Zealand) Limited

DLA Piper New Zealand

DLA Piper New Zealand in Auckland frequently handles the local aspects of international financings for the firm's global client base. It also has an impressive roster of domestic clients in key area such as fintech, corporate and institutional finance, debt capital markets, property and development finance, and financial regulation. Katie Carson leads the firm's finance, projects and restructuring practice. She acts for  domestic and international banks, VC and private equity funds, trustees and corporate borrowers. Among her key clients are Heartland Bank and Foodstuffs North Island. Up-and-coming partner Michael Thompson handles a broad range of property and development finance, leveraged and acquisition finance, corporate finance and restructuring. The practice added two senior counsels with the arrival of Randeep Robinson from HSBC and Nick Valentine from King & Wood Mallesons in Sydney.

Practice head(s):

Katie Carson

Other key lawyers:

Michael Thompson

Testimonials

‘The firm has a recently refreshed banking team that differs from its competitors by being part of a truly global network.”

“The banking & finance team is accessible, commercial, credible, timely with its inputs and fairly priced against its peers.”

“Michael Thompson has acted for me on a number of banking transactions; he is an effective communicator, understands our risk concerns and drivers, and protects our position.”

“Michael Thompson’s team is good at drafting trade finance facility agreements. It offers high-quality and very professional services.”

“Michael Thompson is a wonderful team leader.”

“It is a full service international firm that has presence in multiple jurisdictions. Bank of China is an international bank and the scope of DLA Piper’s operation gives us comfort that they can deal with all our banking needs.”

“The partners and lawyers are consummate professionals who act in the best interests of the clients. They provide value added services and advice and could be trusted to deliver the best results.”

“The team has great depth of experience, listens to its clients’ needs and understands how to deliver value.”

“Katie Carson’s attention to the matter at hand was our work was just as important as any other client, no matter the size or scale of the piece of work. Katie will engage others appropriately both to ensure excellence in the advice provided and also to ensure costs are considered in the realm of the advice required.”

Key clients

ASB Bank

Westpac New Zealand

Foodstuffs North Island

Bank of New Zealand

The New Zealand Guardian Trust Company

Heartland Bank

TSB Bank

FlexiGroup New Zealand

China Construction Bank (New Zealand) Limited

Bank of China

HSBC

Accel-KKR

ING

Rabobank

Harmoney

Work highlights

  • Advised Accel-KKR in connection with the acquisition finance arrangements of its acquisition of Seequent Limited.
  • Advised Accel-KKR and Seequent Limited on the acquisition finance arrangements for Seequent’s acquisition of Geosoft.
  • Acted for ING on the refinancing of a senior debt facility for 2Degrees and related matters.
  • Acted for The New Zealand Guardian Trust Company in connection with Latitude Financial Services’ securitisation programme.
  • Advised Harmoney in connection with its first warehouse securitisation programme.

Simpson Grierson

Simpson Grierson has recognised expertise in leveraged and acquisition finance for private equity-backed M&A transactions, which last year included advising Adamantem Capital on the acquisition of Hellers and Moira Mac’s Group. The firm is also a key player in real estate finance, project finance, public financing, debt capital markets and asset finance. Practice head Stuart Evans is an expert in real estate financing, on which he advises both banks and non-bank funders. Key partner Andrew Harkness handles acquisition and leveraged finance transactions for both lenders and private equity sponsors, as well as corporate finance and asset financing. Josh Cairns advised new client The Treasury on its infrastructure funding and finance programme. Senior associate Dominic Toomey is a rising star.

Practice head(s):

Stuart Evans

Other key lawyers:

Andrew Harkness; Josh Cairns; Dominic Toomey; Zelda Gower

Testimonials

“The team can turn work around quickly compared to other NZ legal firms.”

“Dominic Toomey was able to answer questions in a commercial way and was willing to provide opinion and advice on market practice.”

“Simpson Grierson is highly regarded for all aspects of property finance transactions. Stuart Evans and Jo Bradford are considered excellent at providing fast, accurate service.”

“The firm has a depth of knowledge and is not over-reliant on the skills of one team member. The team is good at making legal language distinctions understandable to the non-lawyer.”

“Josh Cairns is very approachable, very knowledgeable, relatable and can distill sometimes wordy and complex legal descriptions into more easily understood language. He explains succinctly why these clauses required. He makes himself available in a timely fashion.”

“Mace Gorringe is great at distilling the legalese into understandable language. You feel you are in safe hands and there is great teamwork.”

“The firm provides exceptional service and responsiveness. The team highlights potential issues but also put them in context.”

“Josh Cairns is well considered, very responsive and able to hold the line, but he does so in a respectful manner and to ensure that he understands the different perspectives. I think this has led to a better outcome than when lawyers simply try to bulldoze through issues, particualrly when there are a number of government agencies involved.”

Key clients

Westpac New Zealand

ASB Bank

Bank of New Zealand

Kiwibank

MUFG Bank

The Treasury (New Zealand Government)

Marubeni

Hong Kong and Shanghai Banking Corporation (HSBC)

China Construction Bank (New Zealand) Limited

Industrial and Commercial Bank of China (New Zealand) Limited

Invesco

Bank of Queensland

Adamantem Capital

Work highlights

  • Advising The Treasury of the New Zealand government on its Infrastructure Funding & Finance (IFF) programme for urban growth.
  • Advising ASB Bank on development financing for new Park Hyatt hotel in Auckland.
  • Advised Adamantem Capital on the NA$200m leveraged acquisition of Hellers and Moira Mac’s Group.
  • Advised ANZ, Bank of New Zealand, MUFG Bank and Westpac New Zealand on the amendment and restatement of four club investment-grade facilities, to provide for new Australian and New Zealand dollar facilities and a shared negative pledge deed; and a new bespoke NZ$ performance bond facility provided by Bank of New Zealand.
  • Advised Invesco on finance to acquire a half share in ANZ Centre.

Anderson Lloyd

The Auckland office of Anderson Lloyd is home to a group of talented banking and finance lawyers led by standout partner Geoff Busch, who focuses on corporate, acquisition, project, structured and asset finance. The firm is a dominant player in the project finance market, with unrivalled experience and expertise in the financing of social and economic infrastructure, notably water, irrigation and commercial property projects. It also has skills in high-end private equity and acquisition finance transactions. It is the only firm based in the South Island to be on the national institutional banking panels for three of the four main trading banks, as well as the panel for Bank of China. Senior associates Rachel Brown and Emma Kerr  are ones to watch.

Practice head(s):

Geoff Busch

Other key lawyers:

Rachel Brown; Emma Kerr

Testimonials

“The firm’s attitude is that nothing is a problem. The practice is knowledgeable and efficient.”

“Geoff Busch and Rachel Brown are approachable, responsive, explain the law in plain English, have good working relationships with other law firms and overseas experience, and they are easy to work with.”

“The Anderson Lloyd team is very experienced and has taken the time to get to know us and our business. It is very good to work with.”

“Geoff Busch is a quality operator. He is responsive and knowledgeable, and knows which issues to focus on.”

Key clients

ANZ Bank New Zealand Limited

ASB Bank Limited

Bank of New Zealand

Bank of China (New Zealand) Limited

Farmlands Co-operative Society Limited

Sealord Group Limited

Mitre 10 New Zealand

Foodstuffs South Island Limited

Cornerstone Infrastructure Partners LP

Theland Tahi Farm Group Limited

New Forests

Rayland Enterprises Limited

Leaseplan New Zealand Limited

Work highlights

  • Acted for ASB Bank Limited, Bank of New Zealand and Westpac New Zealand Limited as lenders on the expanded syndicated refinancing of the Britomart Precinct in Auckland, New Zealand.
  • Acted for Waimea Irrigators Limited and Waimea Water Limited in relation to the senior and subordinated project financing of the Waimea Dam project.
  • Acted for Bank of New Zealand in relation to its syndicated financing of the Go Car Finance group and its subsequent refinancing as part of the acquisition by Money3 Corporation Limited of the Go Car Finance group.
  • Acting for a New Forests Asset Management Pty Ltd-managed fund on the financing of its successful bid to acquire Hikurangi Forests Farms.
  • Refinancing of facilities with ANZ Bank New Zealand Limited in connection with a restructuring of NZ Retail Property Group’s property holdings.

Kensington Swan

Dentons Kensington Swan acts for a range of large financial institutions and corporate trustees in New Zealand on corporate and acquisition finance, property development, trade finance, receivables financings and debt capital markets transactions. It also niche expertise in retirement village development financing and structured finance. Among the firm's key clients are HSBC, ANZ Bank and Bank of New Zealand. Key partner Nicole Xanthopol moved to Webb Henderson but oversight of the practice is now handled by four experienced partners. Auckland-based James McMillan handles the firm's relationships with HSBC and ANZ. In Wellington,  David Ireland handles funds management and financial services law, corporate partner David Shillson and investment funds specialist Catriona Grover. In early 2020, Liz Lim joined from Tompkins Wake.

Practice head(s):

James McMillan; David Ireland; David Shillson; Catriona Grover

Other key lawyers:

Heida Donegan; Pauline Ho; Nick Beresford

Testimonials

“We have found the banking team through direct contact with Pauline Ho thorough, efficient and cost-effective.”

“Pauline Ho is an efficient, cost-effective and transparent banking asset for us. She understood our commercial needs and did not overcomplicate what we were asking for.”

Key clients

HSBC

ANZ Bank

Bank of New Zealand

Bank of China

Public Trust

New Zealand Guardian Trust

AMP Group

RESIMAC

National Bank Australia

ANZ Australia

Work highlights

  • Advised ANZ Bank on a review of the security position of various borrowing groups.
  • Acted for HSBC on various debt recovery and security enforcement instructions against residential borrowers.

Lane Neave

Lane Neave's banking and finance practice has notable strength in property and development funding. It recently acted for ANZ Bank in the acquisition of the Spark Central building in Wellington. It is also currently acting on a large scale urban village development of residential and commercial units at the Alexandra Park in Auckland and a Kiwibuild development in Wellington. The firm also handled numerous off-balance sheet, quasi-securitisation and receivables financing transactions. It acted for the Bank of New Zealand in a pioneering funding structure for a peer-to-peer lending platform provider. It is also skilled in mining finance, technology finance, credit union finance, project funding, plant development funding, yellow goods funding and off-take funding arrangements. The practice is led by Evelyn Jones in Auckland.

Practice head(s):

Evelyn Jones

Key clients

ANZ Bank New Zealand Limited

Bank of New Zealand

Bank of China

China Construction Bank

Industrial and Commercial Bank of China (New Zealand) Limited

New Zealand Public Trust

Credit Union Baywide (trading as NZCU Baywide)

Mainland Capital Investment Management Limited

Bridgewest Group, Bridgewest Finance and Bridgewest Finance (New Zealand)

Auckland Trotting Club Incorporated

Work highlights

  • Represented ANZ Bank New Zealand Limited in relation to a loan facility to a limited partnership SPV property syndicate to acquire the building in Wellington known as ‘Spark Central’, the most expensive office building ever sold in Wellington, at NZ$197.5m.
  • Represented Bank of New Zealand in relation to a receivable finance facility and working capital facility to the Squirrel Group, for the purposes of its peer-to-peer lending platform, and general working capital requirements.
  • Represented Bank of New Zealand in relation to loan facilities to a SPV subsidiary of the Huadu International Construction Group to refinance existing facilities with another bank in relation to its development of a new $70m health research and education facility as part of the new Christchurch ‘Health Precinct’.
  • Acted for the Auckland Trotting Club Incorporated, which is undertaking the development and construction of the largest mixed development in Auckland on the ATC’s property adjoining Auckland’s flagship racecourse, which it also owns.
  • Represented Mainland Capital Investment Management Limited as manager of the MIF2 GGH Trust in relation to term investment funding for its acquisition of commercial property.

Lowndes

Lowndes is best known for its active borrower-side practice, though it is also on the panel of a major New Zealand bank. The firm has niche expertise in specialist security arrangements, cross-border transactions (both inbound and outbound), specialised transaction funding arrangements and advice to corporate trustees on large debt issues. The firm has a strong insolvency and restructuring team, of which members of the banking and finance practice are active members.  The partners frequently provide corporate finance advice to the firm’s commercial clients. Michael Anderson, who works in both the Auckland and Wellington offices, leads the practice. Chartered accountant Paul Hartland handles large mandates for Australasian corporates.

Practice head(s):

Michael Anderson

Other key lawyers:

Allan McRae; Mike Whale; Paul Hartland; Jennifer Tunna

Key clients

Public Trust Limited

Rothbury Group

Huawei Technologies

Go Car Finance

Australian Factoring Company

VMG Ventures

Work highlights

  • Acting for Green & McCahill Holdings Limited in a complex NZ$140m funding arrangement.
  • Acting for Public Trust as a supervisor of the NZ$100m Property for Industry bond issue.
  • Acted for Public Trust bond issue replacing NZ$30m in convertible notes which had matured.
  • Acting for Go Car Finance Ltd and a large number of corporate and trustee subsidiaries/obligors in relation to a NZ$30m syndicated facility.
  • Acted for Public Trust as trustee of the TR Group’s NZ$100,000 bond issue.

Tompkins Wake

Tompkins Wake joins the ranking having expanded its offering in Auckland with the hire of specialist banking and finance partner Liz Lim , formerly special counsel at Bell Gully. Lim frequently advises banks and other financial institutions, investment firms, local government entities and corporates. Her main areas of expertise are asset and lease financing, property and construction financing, and acquisition financing, though she frequently handles corporate financing, securitisation and regulatory matters. She recently acted for UPFintech Holding Limited in the preparation for its IPO on NASDAQ. Update: In early 2020, Lim joined Dentons Kensington Swan.

Testimonials

“The firm has a great little  niche team that provides prompt service at reasonable rates.”

“Good coordination within the team, which is responsive and timely.”

Work highlights

  • Provided due diligence on UPFintech Holding Limited’s New Zealand subsidiaries prior to IPO on NASDAQ.
  • Acting for large New Zealand business to secure overseas distribution of products.
  • Assisted a company with financing for the acquisition of a mature forestry block.

Vince&Rice

Vince&Rice is a new specialist banking and finance law practice. Founded in December 2018 by leading banking partner John-Paul Rice, formerly of Russell McVeagh and restructuring and insolvency specialist Kyra Vince, previously at Bell Gully, who between them have more than 30 years' experience in global finance and restructuring. The firm's expertise encompasses banking, debt capital markets, acquisition finance, project finance, property and development finance, restructuring and insolvency, structured finance and financial services regulation. The firm 'thoroughly understands its clients' business, objectives and how they can add value through their counsel', remarks a client.

Practice head(s):

John-Paul Rice

Testimonials

“Thanks to John-Paul Rice it has big firm expertise with the agility and price point of a boutique specialist firm. The service is pragmatic, quick and user-friendly.”

“John-Paul Rice is our ‘go-to’ man for banking and finance. He is always available – literally 24 hours a day if needed – and he knows how to play on a team. He has a great brain but is pragmatic and he let’s the client make commercial calls after advice rather than trying to control them as some of the big firms do.”

“I rate the firm ahead of its market peers and the team has exceptional experience and capability. As a specialist banking and finance firm, it has broad knowledge, is well known and offers excellent value for money. I find it really adds value to our issues, and well represents its clients.”

“John-Paul Rice is well known in the market as a superior business partner. He consistently goes above and beyond and exceeds expectations. His knowledge of local and global market practice, products and best practice gives him an edge on other legal firms.”

“The firm has exceptional capability in the financing area and provides a high level of partner access.”

“It shows commitment to delivering best solution, within required time frame.”

“New to the scene, the firm offers first-class legal services while also being flexible and cost-effective. The dedication of the partners is key and you get real partner face time without being handed off to a junior – irrespective of the size of the task.”

“John Paul Rice is a top-tier lawyer with great experience in the banking and finance industry. He is a great asset to have available within the boutique arena.”

Key clients

Freshmax

Manuka Health

The Icon Group

McConnell Property

Guoco Group

Douglas Pharmaceuticals

Work highlights

  • Advised the developers of the Airedale Apartment complex in Auckland on the restructuring of their NZ$28m financing and construction arrangements following the voluntary administration of New Zealand builder, Arrow International.