Banking and finance in New Zealand

Bell Gully

Recognised for its ‘extremely high quality banking and finance expertiseBell Gully‘s market-leading practice is spearheaded by Wellington based David Craig, and continues to be sought after for its expertise in acquisition funding, and on-going demand for New Zealand dollar-denominated debt by offshore issuers, advisory work and securitisations. Murray King is considered a leader in the securitisation market, while David McPherson is trusted counsel for lenders and borrowers on high-value acquisition and debt restructurings. Leading New Zealand’s only specialist derivatives practice, Craig advised ASX-listed Xero on the New Zealand elements of its US$700m Convertible Note issue, with such notes listed on the Singapore Stock Exchange and used to buy back Xero’s existing US$300m guaranteed convertible notes due in 2023 and to pay for potential acquisitions. Jennifer Gunser represents private equity and public and private companies in acquisition/leveraged financings and securitisations; she recently advised Restaurant Brands on the establishment of new global multi-currency facilities across New Zealand, Australia and the US valued at NZ$375m. Senior associates Sam Dykes and Zac Kedgley-Foot are the other central figures in the team. All lawyers are based in Auckland unless stated otherwise.

Practice head(s):

David Craig

Testimonials

‘The BG Banking & Finance team have extremely high quality banking and finance expertise. They couple this knowledge with efficient and timely turn arounds on all key requests and engage proactively to ensure they understand and provide advice and solutions with a long term focus. ‘

‘David Craig has supported us from inception with our banking & finance legal requirements. Extremely experienced and knowledgeable of the industry and our company specific legal considerations with regard to our banking & finance structures.’

‘Zac Kedgley-Foot has provided high quality support as we’ve worked through structuring issues on our debt facilities, providing commercial & sound advice to achieve successful outcomes and ensuring things are turned around as efficiently as possible.’

Key clients

Air New Zealand

ANZ Bank New Zealand

Bank of New Zealand

Commonwealth Bank of Australia (including ASB Bank)

Fletcher Building Limited

JP Morgan

Deutsche Bank

Reserve Bank of New Zealand

The New Zealand Treasury

SkyCity Entertainment Group

Vector

Xero

Work highlights

  • Supported Bluestone Group on a comprehensive restructure of its New Zealand funding programme including amending the terms of two existing funding trusts and establishing a new Prime Warehouse Trust funded by Bank of New Zealand and a new Sub-prime Trust funded by Westpac New Zealand.
  • Assisted Air New Zealand with the negotiation and entry into a secured standby term loan facility agreement with the Crown to assist with the significant impact of COVID-19 on Air New Zealand’s working capital requirements.
  • Advised International Bank for Reconstruction and Development, the leading issuers of Kauri bonds, on a dual tranche in November 2020, the first tranche being for NZ$1bn 0.75 per cent. Notes due 10 June 2026 and the second tranche for NZ$300m 1.25 per cent.

Buddle Findlay

Buddle Findlay’s Paul Farrugia-led banking team has ‘technical, black letter expertise coupled with acute awareness of what matters commercially and practically’. Its sizeable team comprises Peter OwlesDaniel Collins and Terence Ng in Auckland. Highlights include advising on the biggest alternative debt transaction of the year- the leveraged financing of the acquisition of Infrawork by Australian-based private credit fund, Tanarra Credit Partners (an its first proprietary transaction in New Zealand). Owles is a ‘safe pair of hands’ on project and infrastructure finance across the Asia-Pacific region, while Farrugia is considered a market leader in the agriculture finance space. ‘Fantastic’ Andrews and Ng are both recommended for syndicated lending, property finance, with Ng particularly active with regard to Asian inbound and outbound investment. Promoted to partner in January 2021, Collins specialises in acquisition finance and syndicated and complex multiparty lending.

Practice head(s):

Paul Farrugia

Testimonials

‘A great combination of different cultures which understand both western and eastern mindset. Always put the bank’s interests as the priority and endeavour to deliver best outcome.’

‘Technical, black letter expertise coupled with acute awareness of what matters commercially and practically. Able to manage matters with no inhouse legal oversight. Adept at building strong relationships.’

‘Miriam Andrews is fantastic – commercial, smart, available, brilliant to work with. Peter Owles has seen it all and done it all well – very safe pair of hands. Super smart and experienced.’

‘Terence Ng has a life long relationship vision, he does not take business opportunities for granted and endeavours to deliver the best outcome.’

Key clients

Air New Zealand

ANZ Bank New Zealand

Bank of New Zealand

Commonwealth Bank of Australia (including ASB Bank)

Fletcher Building Limited

JP Morgan

Deutsche Bank

Reserve Bank of New Zealand

Work highlights

  • Acted for ANZ and multiple banks in connection with financing the acquisition of Healthscope’s New Zealand pathology business, Asia Pacific Healthcare Group (APHG).  APHG is a joint venture between the NZ Super Fund and Ontario Teachers’ Pension Plan Board.  This transaction was the biggest leverage finance transaction in 2020.
  • Acted on behalf of Energy Fiji Limited in connection with its inaugural syndicated financing, which was the largest syndicated financing in Fiji.
  • Acted on behalf of Bank of New Zealand in connection with its project financing of the privately procured Waste Water Treatment Plant in Cardrona, New Zealand.

Chapman Tripp

Chapman Tripp maintains its top-tier ranking owing to its participation in the most complex and novel transactions in the market, such as advising Mercury NZ Limited on establishing its inaugural green financing framework. Cathryn Barber chairs the national finance practice from Auckland, where she is an expert in multi-jurisdictional corporate finance, syndications and property financing transactions. In the same office, Luke Ford leads on debt and equity-linked capital markets transactions, alongside a specialisation on sustainable finance and green bonds. Gerard Souness focuses on leveraged, project and acquisition funding transactions and pre-export and cross-border export credit agency-backed facilities. In Wellington, Mark Reese has a strong background working with Government bodies and other public and private sector entities on project and asset financing, while Emma Sutcliffe takes a sustainability perspective on financings. Ross Pennington left the practice in May 2021.

Practice head(s):

Cathryn Barber

Other key lawyers:

Mark Reese; Gerard Souness; Luke Ford

Testimonials

‘Excellent team who understands our business needs well. We have well-established trust and confidence in the banking and finance team at Chapman Tripp. They have always worked hard to achieve our timeframes and provide practical and efficient legal advice.’

‘Mark Reese – exceptional service to our business unit. We appreciate Mark’s expertise and guidance in navigating complex banking and finance matters. Pragmatic and efficient.’

Key clients

Calibre Partners

Westpac New Zealand Limited

New Zealand Government Treasury

New Zealand Superannuation Fund

Waterman Capital

Oceania Healthcare

Waka Kotahi NZ Transport Agency

Mercury New Zealand Limited

Ministry of Business Innovation and Employment

Bank of New Zealand

 

Work highlights

  • Advised Mercury to establish its new Green Financing Framework, which can include both bonds and loan facilities, and to issue its inaugural Green Bonds listed on the NZX. This was New Zealand’s first new retail green bond of 2020, totalling NZ$200m.
  • Advised the New Zealand Government on all aspects of its support package for Air New Zealand, including the initial NZ$900m secured standby facility, the increase in the facility size to NZ$1.5bn and extension of the term, minimum route and freight requirements and stock exchange and regulatory issues.
  • Advised New Zealand Superannuation Fund and Ontario Teachers’ Pension Plan on its acquisition of Asia Pacific Healthcare Group (APHG) from Australian based Healthscope (100% owned by Brookfield Asset Management).

MinterEllisonRuddWatts

MinterEllisonRuddWatts is highly regarded for its representation of leading domestic and international banks such as KiwiBank, HSBC and Bank of China on top-end acquisition finance matters, project and real estate financing. The Auckland office is home to Steve Gallaugher, who leads the leveraged and institutional finance practice, and Kate Lane who is renowned for her expertise in corporate finance and in the fast-developing area of ESG bonds. Property finance specialist Michael Langdon is another key name, as is special counsel Simon Gray and senior associate Marie Kissick . Based in Wellington, Chris O’Brien acts for public sector entities, and is a trusted advisor to the New Zealand Government Treasury. He continues to acts for the Ministry for Business, Innovation and Enterprise on a series of loans advanced out of the Provincial Growth Fund.

Practice head(s):

Jeremy Muir

Testimonials

‘One factor that makes this team stand out for me is that they deeply understand our business and our industry, and that really enhances their ability to combine legal guidance with a keen commercial awareness. Above others, they are the firm that will raise with us broader implications for our business not just from regulatory change but also in relation to any given piece of work they are assisting us with.’

‘Kate Lane stands out as someone who has a real interest in understanding the commercial drivers behind any piece of work and is quickly able to combine that understanding with her obvious legal expertise to drive an efficient result. With any piece of work, Kate will always consider the broader legal implications for our business and flag these, making her a valuable adviser for our business.’

Key clients

ANZ Bank

Westpac Bank

Bank of New Zealand

ASB Bank Limited

Kiwibank Limited

The Treasury New Zealand

Synlait Milk

Refining New Zealand

MediaWorks

Work highlights

  • Advised the MLAs on arranging and funding the underwritten facilities to fund Infratil’s acquisition of the Pacific Radiology Group (with an ascribed EV of $870m).
  • Advised Wellington Gateway Partnership on the complex resettlement of the Transmission Gully PPP roading project.
  • Advised the banking syndicate, comprised of ANZ, ICBC and Westpac, on their financing of the Industre Property Group (a joint venture between Stride Property Limited, listed on the NZX, and a group of international investors, advised by J.P. Morgan Asset Management).

Mayne Wetherell

Mayne Wetherell’s full-service transactional practice is often instructed by leading domestic banks, blue-chip corporates and government bodies in New Zealand a diverse range of financings. Acquisition finance specialist Will Tipping leads the team, which includes Dave Wetherell, one of New Zealand’s leading banking and finance lawyers, with Mei Nah and Daniel Meikle  handling securitisation and debt capital markets mandates. Cameron Peachey is another recommended lawyer for acquisition finance, structured finance and project finance.

Practice head(s):

Will Tipping

Key clients

ASB Bank Limited

ANZ Bank Limited

M&G Investments Limited

Avanti Finance Limited

Work highlights

  • Advising the six lenders in the establishment of a AAA rated auto and equipment finance-backed syndicated securitisation programme for UDC Finance Limited.
  • Acting for ASB the sole MLAUB on the financing of the takeover of Abano Healthcare Group Limited by way of scheme of arrangement by a consortium of BGH Capital Pty Ltd and Ontario Teachers Pension Plan Board. This deal was complex as it involved a scheme of arrangement presenting a number of legal complexities in the process of acquiring Abano.
  • Advising ANZ and First Gas are to the Senior Facilities Agreement and Security Trust Deed, and agreed to amend and restate both the SFA an STD as part of a refinance. First Gas extended and increased some of its existing facilities.

Russell McVeagh

Unrivalled by its breadth of knowledge, availability and ability to solve complex finance issuesRussell McVeagh‘s corporate and acquisition financing practice demonstrates strong capability on bond issuances, securitisation, refinancings and debt restructuring. National practice group chair Guy Lethbridge is widely recognised for his expertise in debt capital markets and the regulation of banks, insurers and other financial institutions. ‘Highly competentDeemple Budhia is likewise a key figure in this field; she recently acted for ANZ on the sale of UDC Finance and established UDC’s $2bn securitisation programme. John Powell is ‘completely on top of all areas of banking and securities law’, and similarly, up-and-coming partner Tom Hunt is ‘very knowledgeable and fully understanding of his clients’ needs’, and is also active in corporate financing. David Weavers is another figure for corporate finance and alternative credit segment, and is active on funds formation mandates for new private credit platforms.

Practice head(s):

Guy Lethbridge

Testimonials

‘The team’s commercial knowledge of the sector is second to none. They are quick to respond on complicated matters with a detailed analysis and a pragmatic solution.’

‘Their breadth of knowledge, availability and ability to solve complex finance issues is unrivalled.’

‘Tom Hunt is very knowledgeable and fully understanding of his clients needs.’

‘Strong technical skills and outstanding relationship management. Very good at taking legal concepts and explaining the need/construct of the issue for non-legal people.’

‘John Powell – completely on top of all areas of banking and securities law. Deemple Bhudia – has completed three green bonds now with us and is highly competent and a great communicator at DD meetings.’

Key clients

New Zealand Local Government Funding Agency Limited (LGFA)

Argosy Property Limited

Heartland Bank Limited

ASB Bank Limited

ANZ Bank New Zealand Limited

Bank of New Zealand

Ministry of Business, Innovation and Employment

 

Work highlights

  • Advised ANZ on the sale of its asset finance business, UDC, to Japan’s Shinsei Bank. In addition to advising on the share sale, we also advised UDC on the establishment of its landmark $2bn AAA rated auto and equipment finance-backed syndicated securitisation programme. The securitisation is the largest non-bank securitisation in New Zealand.
  • Acted for the MLABs and the Agent on behalf of a syndicate lenders in connection with the refinance of Kathmandu’s existing senior secured facilities agreement, including the addition of a A$100m sustainability-linked tranche (the largest syndicated sustainability-linked loan in the New Zealand market to date, and the first in the Apparel sector).
  • Advised the New Zealand Bankers’ Association and the 10 participating banks on the establishment of the NZ$6.25bn Business Finance Guarantee Scheme. This scheme was put into place jointly by the NZ Government and NZ’s banks to provide liquidity and cashflow to businesses that were adversely affected by COVID-19.

Simpson Grierson

Simpson Grierson is rated for its ‘extensive experience across the the banking and funds sector’. Stuart Evans heads one of New Zealand’s top specialised property financing practices; demonstrated with his advice to Westpac in providing a loan facility to the Marutuahu Ockham No2 Partnership, part of the KiwiBuild Programme, to fund the development of residential and commercial units. In the same office, Andrew Harkness is a top advisor on acquisition/leveraged finance for both lenders and sponsors, and is assisted by senior associate Dominic Toomey. In Wellington, Josh Cairns leads the local government borrowing practice while also handling a significant amount of corporate and project finance work.

Practice head(s):

Stuart Evans

Testimonials

‘The Banking and Finance team is well attuned to market developments. Understand the Supervisor Trustee role. Opinions are clear and protect investor interests but in a pragmatic accommodative way.  The whole team are collaborative, approachable great at distilling complex issues and presenting clear pragmatic opinions that work – very easy to work with. Easy to recommend team and individuals to prospective clients.’

‘Deep experience across the banking and funds sector with a pragmatic ability to find commercial solutions to unique matters. The team recently brought in other parts of the practice to advise on a new product and direction which showed the depth of expertise across the firm.’

‘Stuart Evans exhibits a clear commercial approach to each issue and has deep experience and networks across the sector to advise on the likely opportunities and outcomes.’

Key clients

Westpac New Zealand

ASB Bank

Bank of New Zealand

United Overseas Bank

MUFG, Ltd

The Treasury (New Zealand Government)

TCF National Bank

Work highlights

  • Advising the Government/The Treasury on the establishment and implementation of the Infrastructure Funding & Finance programme. This creates a new financing tool in New Zealand for the funding and financing of growth infrastructure.
  • Advised the senior banking syndicate (comprising Westpac New Zealand Limited, National Australia Bank, Bank of New Zealand, and Bank of China’s Auckland branch) on a NZ$340 million senior syndicated facility to finance the acquisition of Ultrafast Fibre’s Central North Island network.
  • Acted for Bank of New Zealand in relation to APLMA-grade syndicated facilities for approx NZ$121 million to finance the development of a prime office building in Wellington CBD, of which BNZ itself would be the main tenant.

Anderson Lloyd

Offering ‘commercially focused advice at a reasonable price pointAnderson Lloyd is active on a range of financings and refinancings, and on cross-border project finance transactions. Highlights in this space include advising Accident Compensation Corporation on its secured fixed rate financing of its joint venture with community housing provider, Community of Refuge Trust. Borrower-side work is another key area of activity; the practice advised the Les Mills Group on the refinancing of its existing debt facilities. Auckland based Geoff Busch is ‘well respected in the market’ and routinely acts on corporate, acquisition, project and structured financing. Senior associate Emma Kerr is another central figure in Auckland. Ben Johnston is the lead partner in Christchurch.

Practice head(s):

Geoff Busch

Other key lawyers:

Emma Kerr; Ben Johnston

Testimonials

‘Always very responsive, understand our sector, efficient and commercially focused. Top tier advice at a reasonable price point.’

‘Geoff Busch is our relationship partner. Very well respected in the market, acts on both the lender and borrower sides. Very commercial and good value for money.’

‘Geoff Busch. Geoff is always very responsive, and can be relied upon to provide clear and technically good legal advice in a timely manner, as well providing sound strategic advice in relation to how issues should be approached. He is very good to deal with and is a trusted advisor to our company.’

‘Geoff Busch – very experienced, very accessible. Almost two decades at partner level,’

Key clients

Kiwibank Limited

Les Mills Holdings Limited

Sealord Group Limited

ASB Bank Limited

ANZ Bank New Zealand Limited

Bank of New Zealand

Rockit Global Limited

Farmlands Co-operative Society Limited

University of Waikato

Work highlights

  • Advised Laybuy Group Holdings Limited on the refinancing of its New Zealand bank debt facilities and establishment of an English law receivables financing line from Victory Park Capital ahead of its listing on the ASX.
  • Advised ASB Bank, Bank of New Zealand and Kiwibank, the syndicate on the syndicated financing of Augusta Penrose Limited’s sale and leaseback acquisition of the Visy Glass plant in Penrose, Auckland.
  • Acted for Accident Compensation Corporation (ACC) on its NZ$50m secured fixed rate financing of ACCORT LP, a joint venture between ACC and community housing provider Community of Refuge Trust (CORT). The transaction will see 100 new homes built for people and families on the public housing waiting list in Auckland.

Anthony Harper

Anthony Harper is recommended for its diverse corporate banking practice and its capabilities in property finance. The practice is also instructed by foreign firms on advice regarding lending in New Zealand and by New Zealand banks lending and taking security in other jurisdictions. Based in Christchurch, Nigel Oliver  routinely acts for borrowers and banks such as Westpac New Zealand and ASB Bank, on corporate, asset and property finance transactions. Crispin Vinnell and senior associate Pip Breitmeyer are the other key names in the South Island office. Grant Goldsmith is the lead partner in Auckland, with support from senior associate Alice Von Batenburg on leveraged finance, project and property finance and syndicated corporate facilities.

Practice head(s):

Nigel Oliver

Key clients

ASB Bank Limited

Bank of China (New Zealand) Limited

Bank of New Zealand

China Construction Bank (New Zealand) Limited

Industrial and Commercial Bank of China (New Zealand) Limited

Mainland Capital Limited

Mutual Credit Finance Limited

Westpac New Zealand Limited

Work highlights

  • Acting for Synlait Milk Limited for the acquisition funding for Synlait Milk Limited’s acquisition of the shares in Dairyworks Limited.
  • Acted for MaxCap Group, one of Australasia’s largest non-bank commercial real estate lenders and investment managers, on its NZ$30m funding to development to the Safari Group for the construction of a hotel and apartment building in Wellington. This was MaxCap group’s first lending transaction in the New Zealand market.
  • Advised Electra Limited on US$125m note issue by a United States prudential fund. The transaction involved a complex deal structure with two creditor groups with separate securities.

Dentons Kensington Swan

Dentons Kensington Swan combines ‘sound technical and legal knowledge’ with a ‘good understanding and knowledge of market practise and trends.’ The firm stands out for its specialist retirement village development financing and its knowledge of new product structuring and development, including transactional banking, trade finance, and receivables financing products. Continuing to benefit from the addition of Liz Lim in 2020, the firm is building on its global reputation and strengthening its visibility across the Asia-Pacific region with new instructions from leading Australian, Chinese and international banks. Lim’s experience in property finance, acquisition finance and asset based financing has attracted high-end mandates from key players in the New Zealand banking sector. Senior associate Pauline Ho is likewise recommended for corporate and structured lending. Both figures are based in Auckland.

Practice head(s):

Liz Lim

Other key lawyers:

Pauline Ho

Testimonials

‘Dentons Kensington Swan is a “big firm” with a “small firm” ethos – i.e., a very personal service with a focus on delivering prompt/excellent legal services to its customers.’

‘Small but good team. Good people and work well with other practice areas, including property. Very responsive and attentive. Always very competitive with pricing/estimates and very clear in communications (when providing advice etc).’

‘Great availability. Very sound technical and legal knowledge, but provides good commercial advice. Good understanding and knowledge of market practise/trends.’

‘Liz Lim is one of those rare “trusted advisors” in the profession. Once instructed, she asks thoughtful questions to explore the scope of work, and thereafter proactively identifies potential issues (and offers potential remedies thereto), and otherwise delivers a seamless legal service/solution. For that reason, Liz Lim is very well known and respected in Auckland/NZ, and has amassed a following over the years.’

Key clients

ANZ Bank

ASB Bank

Bank of New Zealand

HSBC

Bank of China

Industrial and Commercial Bank of China

Guardian Trust

Public Trust

 

DLA Piper New Zealand

DLA Piper New Zealand‘s Auckland office is home to a finance, projects and restructuring practice where Michael Thompson ‘s ‘team have a good understanding of the market, combined with strong technical knowledge and a commercial responsive approach‘. Thompson is a trusted advisor in leveraged and acquisition finance, corporate finance and the restructuring of distressed financings. He has developed a strong specialisation in property and development finance, particularly in affordable and social housing. The practice further bolstered its cross-border banking expertise with lateral hire, Rachel Brown, who joined in April 2021 from Anderson Lloyd. Having previously worked in a top London firm, she has a strong foundation in the European markets, and regularly acts for banks, borrowers and private equity sponsors on a variety of acquisition finance transactions. Jacob Nutt has joined from Lane Neave.

Practice head(s):

Michael Thompson

Other key lawyers:

Rachel Brown

Testimonials

‘Michael Thompson and his Banking and Finance team have a good understanding of the NZ market and its key players. This combined with their strong technical knowledge, knowledge of their client’s business and commercial responsive approach makes them very valuable.’

‘Michael Thompson stands out as a strong Banking & Finance lawyer in NZ.’

‘We use Rachel Brown who is a recent lateral hire. She is a relatively junior partner, but is operating at a level where we feel very confident in her abilities.’

‘Rachel Brown is very commercial and pragmatic when needed. She understands the market well, acting regularly for both borrowers and lenders. I have complete faith in her to get on with the legals, and only raise points of commercial significance or material risk with us.’

Key clients

Westpac New Zealand Limited

ASB Bank Limited

HSBC

Harmoney

Humm Group

Bank of China (New Zealand) Limited

China Construction Bank (New Zealand) Limited

Commonwealth Bank of Australia

 

 

Work highlights

  • Acted for Happy Valley Nutrition on its senior secured development facility and secured convertible note issuance.
  • Acted for Harmoney on its new $200m securitisation funding programme with M&G Investments. This represents their second securitisation trust.
  • Continues to act for Foodstuffs North Island on all aspects of its financing arrangements.

Lane Neave

Based in Auckland, Lane Neave’s ‘small but very good’ banking team is noted for its ‘commercial acumen’ and ‘excellent client experience’. The practice performs strongly in the area of securitisation and receivables financing transactions, and continues to advise Bank of New Zealand in connection with amendments to its existing securitisation programme to a ‘buy now, pay later’ service provider. It also has a good background in debt capital markets and issuances, and is distinguished as one of the few firms which have specialist knowledge of mining finance. Evelyn Jones has ‘great attention to detail and provides comprehensive, detailed and great advice on facility and security agreements and structures.’ Jacob Nutt has left for DLA Piper New Zealand.

Practice head(s):

Evelyn Jones

Testimonials

‘The Lane Neave Banking & Finance team consistently demonstrates its expert technical knowledge and commercial acumen across the broad range of matters that we engage them on. The team has expert knowledge in some of the more niche areas of banking and finance law, and so we often seek out their advice on resolving intricate and technical matters, knowing that we can always rely on them providing us with the right advice when needed. The team is always on-top of developments in this space, and is always able to add value and provide insightful commentary when it comes to applying regulatory in practice. ‘

‘Lane Neave may be a large firm, but they do a fine job of delivering a personalised/bespoke legal service to their customers.’

‘Evelyn Jones is our key contact at the firm, and we have been working with her for some time. Over the years she has lead a number of key projects for the bank, and advised us on some significant transactions. She always makes herself available, and we always feel that she is across all work being undertaken, whether she is leading a piece of work or co-ordinating a team that is working under her. ‘

‘Evelyn Jones is reliable, communicates well, and has broad expertise over a variety of product lines.’

Key clients

Bank of New Zealand

ANZ Bank New Zealand Limited

Industrial and Commercial Bank of China

Bank of China

China Construction Bank

New Zealand Public Trust

Credit Union Baywide (trading as NZCU Baywide)

Auckland Trotting Club Incorporated

Woolworths New Zealand Limited

 

Work highlights

  • Advised Public Trust as bond supervisor and New Zealand Permanent Trustees as security trustee in connection with Ryman Healthcare Limited’s oversubscribed retail issuance of $150m secured, unsubordinated fixed rate bonds
  • Advised the lender on its funding of the purchase of the Sofitel Queenstown – New Zealand’s largest hotel sale post-COVID-19.
  • Advised a leading food and beverage wholesaler and distributor on the restructure of its debt facilities with a new bank syndicate.

Webb Henderson

Nicole Xanthopol leads the banking practice at Webb Henderson, which advises New Zealand’s key players in the financial services sector, including ANZ, Bank of China and New Zealand Guardian Trust. Her varied practice encompasses all forms of complex financing transactions, including tax structured financing, derivatives and debt capital markets, alongside a keen interest in sustainable financing. She is also adept on cross-border financings, having gained valuable experience in the European markets during her partnership position at a magic circle firm in London. Henry Willis‘ practice straddles corporate and banking law; he is also a pivotal figure on the team.

Practice head(s):

Nicole Xanthopol

Other key lawyers:

Henry Willis

Key clients

SilverTree Equity Limited

ANZ Bank New Zealand Limited

ElectromotiV Pty Ltd

Bank of New Zealand

Australia and New Zealand Banking Group Limited (ANZ Australia)

Latham Construction

Public Trust

Pioneer Capital

Work highlights

  • Advised Public Trust on the issue by Investore of a further series of bonds for $100m (with a $25m oversubscription).
  • Acted for Electromotiv on the New Zealand finance aspects of its largest leasing deal to supply electric buses and recharging infrastructure to bus operators.
  • Advised SilverTree Equity Limited and Pioneer Capital on the acquisition financing facilities for the acquisition of Agility CIS, a market-leading provider of utility customer information and billing systems solutions around the world in 2019. Advised on 2 further bolt-on acquisitions in 2020 – of Znalytics, and Webtools Energy, a leading SaaS pricing and quote management software provider.