Banking and finance in New Zealand

Bell Gully

Noted ‘as one of the leading firms in New Zealand’, Bell Gully advises clients on large and complex financing transactions for both sponsors and lenders. The firm’s experience includes supporting clients with corporate financing, securitisation, restructuring and real estate finance. The team is led by Jennifer Gunser, whose clientele includes corporations, private equity funds and financial institutions. Securitisation expert Murray King and debt restructuring specialist David McPherson are central names within the practice. Sarah Anderson-Butler is knowledgeable in project and infrastructure financing matters. David Craig retired in January 2024.

Responsables de la pratique:

Jennifer Gunser


Autres avocats clés:

Murray King; David McPherson; Zac Kedgley-Foot; Sarah Anderson-Butler; Sam Dykes


Les références

‘As one of the leading firms in NZ, Bell Gully are involved in all transactions of note in our market so their depth of knowledge of market norms is second to none.’

‘Jennifer Gunser is a valued partner to us as agent bank in syndicated loans. Her market knowledge is second to none and her ability to advise us both on questions we have asked and those we should have asked is impressive.’

Principaux clients

Air New Zealand


ANZ Bank New Zealand


ASB Bank Limited


Igneo Infrastructure Partners


Rakon Limited


Commonwealth Bank of Australia


Fletcher Building Limited


JP Morgan


Deutsche Bank


Reserve Bank of New Zealand


Vector


SkyCity


Crown Infrastructure Partners


The New Zealand Guardian Trust Company Limited


Bank of New Zealand


Metlifecare Limited


New Zealand Green Investment Finance Limited


Vodafone New Zealand


Crown Infrastructure Partners


Vital Healthcare Property Trust


Principaux dossiers


  • Advised Crown Infrastructure Partners on the second landmark transaction under the Infrastructure Funding and Financing Act providing funding to the Wellington City Council for the construction of a waste water minimisation facility at Moa Point.
  • Advised the consortium of private equity firm BGH Capital Pty Ltd and global investment firm Sixth Street Partners LLC as local counsel on all aspects of the debt financing arrangements for the NZ$1.6 billion acquisition of the NZX and ASX-listed Pushpay Holdings Limited.
  • Advised Igneo Infrastructure Partners and its portfolio company First Gas (now known as Clarus) on the refinancing of its core debt facilities, including the provision of a bridge facility to support a future term-out and new term and capex facilities.

Buddle Findlay

The ‘very knowledgeable and helpful’ team at Buddle Findlay cover the gamut of banking & finance work, advising on green, real estate and project financing. The firm is also well-versed in cross border leverage and acquisition finance. Paul Farrugia helms the practice, acting on syndicated lending, leveraged finance and real estate finance transactions. Daniel Collins is a key member of the team with experience on leverage finance matters. Miriam Andrews specialises in funds and alternate capital work. Paul Appleyard is another key name. Peter Owles and David Perry retired as partners and took on consultancy roles at the firm.

Responsables de la pratique:

Paul Farrugia


Autres avocats clés:

Miriam Andrews; Daniel Collins; Paul Appleyard


Les références

‘Highly efficient, commercially pragmatic and quality legal advice.’

‘Paul Farrugia is very client-centric. He finds commercially pragmatic solutions to complex legal problems.’

‘Buddle Findlay’s strength is their ability to actively manage multiple complex transactions at the same time, meeting all deadlines and continuing to provide detailed relevant legal advice at all times. They are our preferred deal partner for syndicated loans.’

Principaux clients

Bank of New Zealand


ANZ Bank New Zealand Limited


Industrial and Commercial Bank of China (New Zealand) Limited


Sky Television


Maui Capital


Adamantem Capital


Pencarrow


Morrison & Co


ICN JV Limited


National Westminster Bank Plc


Westpac NZ Limited


Kiwibank Limited


Rabobank


Infratil


NZ Commercial Ventures Limited


Bank of India


Commonwealth Bank of Australia


Ngai Tahu, Investment Vehicle


China Construction Bank


Bank of China


Principaux dossiers


  • Advised a group of lenders in funding the infrastructure costs for the construction of the Wellington Sludge Minimisation Facility located in Wellington.
  • Advised Bank of New Zealand in relation to the green loan financing of $168,000,000 made available to Precinct Properties New Zealand Limited to assist their acquisition and development of a commercial office building at 61 Molesworth Street, Wellington.
  • Advised Bank of New Zealand in relation to the refinancing of $160,000,000 made available to the joint venture entities established by Auckland Airport Limited and Tainui Group Holdings Limited to assist their development of the Te Arikinui Pullman Auckland Airport Hotel (a new five star, nine-level and 311 room hotel at Auckland Airport).

Chapman Tripp

Chapman Tripp specialises in a wide range of sectors, including sustainable and property financing, securitisation, banking regulation and debt capital markets. The firm is also regularly advised on cross-border matters, often involving Australia. Leigh Kissick leads the team and is an expert on infrastructure project financing. Luke Ford is a debt capital markets specialist. Gerard Souness adds insight into the corporate and institutional finance sector. Mark Reese is noted by clients as an ‘excellent communicator’. Cathryn Barber and Emma Sutcliffe are also noted within the team.

Responsables de la pratique:

Leigh Kissick


Autres avocats clés:

Cathryn Barber; Mark Reese; Luke Ford; Gerard Souness; Emma Sutcliffe; Jana Hitchcock


Les références

‘Mark Reese and Leigh Kissick are excellent communicators, responsive and find efficient solutions to problems.’

‘Commercial, easy to deal with, knowledgeable.’

Principaux clients

solarZero


Wellington City Council


OTPP


Precinct Properties


Winton Properties


Pepper NewZealand Limited


Westpac NewZealand


Bank of NewZealand


Beca Group Limited


ANZ Bank


Principaux dossiers


  • Assisted Westpac New Zealand to finance New Zealand’s largest solar project to date – five solar farms being developed by Lodestone Energy and constructed in Dargaville, Kaitaia, Waiotahe Valley,Edgecumbe and Whitianga.
  • Advised Pepper Money on all aspects of its acquisition and securitisation funding of HSBC’s NZ$1.4 billion New Zealand home loan business – one of the largest loan portfolio sales and securitisation deals ever seen in the New Zealand market.
  • Advised ANZ Bank New Zealand Limited and MUFG Bank, Ltd. as arrangers on Infratil’s acquisition of the remaining shares in Vodafone New Zealand for NZ$1.8 billion.

MinterEllisonRuddWatts

Assisting trading banks, government bodies, investment firms and private credit funds, MinterEllisonRuddWatts is experienced across the banking and finance space, with particular knowledge in senior and mezzanine loan facility matters. The firm has further expertise in compliance and restructuring matters. Jeremy Muir and acquisition financing expert Steve Gallaugher are the firm’s practice heads. Within the team, Kate Lane advises banks on the redrafting of their loan documents. Chris O’Brien is experienced in securitisation matters. Simon Gray adds project finance expertise. Allison Hancock, who was promoted to partner in January 2024, advises clients on sustainable finance matters.

Responsables de la pratique:

Jeremy Muir; Steve Gallaugher


Autres avocats clés:

Kate Lane; Chris O’Brien; Simon Gray; Allison Hancock


Principaux clients

ANZ


ASB


Bank of New Zealand


Co-operative Bank


Fullers Group Limited


Kiwibank


Merricks Capital


Pencarrow Private Equity


Rabobank


The (New Zealand) Treasury


UDC Finance


Westpac


Principaux dossiers


  • Advised amicaa, The Carlyle Group and ASB Bank on all aspects of their NZ$140 million secured senior debt package to finance a management buyout of New Zealand’s leading independent fuel retailer, NPD.
  • Acting for Toka Tū Ake, the Crown entity responsible for providing first loss natural disaster insurance in New Zealand, on the placement of a NZD225 million catastrophe bond by Singapore-domiciled special purpose reinsurance vehicle, Totara Re Pty Ltd.
  • Acted for Tourism Holdings Limited on the refinancing of its senior debt facilities following completion of its merger with Apollo Tourism and Leisure Ltd, by scheme of arrangement.

Russell McVeagh

With a ‘stand out’ depth of experience, Russell McVeagh boasts strength in project finance and sustainable finance expertise. The firm is also well-versed in assisting clients with securitisation matters. The practice is led by Deemple Budhia, an expert in debt capital markets, and Jesse Fairley, who is experienced in acquisition and leveraged finance. Guy Lethbridge advises clients on debt issuances, securitisation and derivatives. John Powell is a specialist in sustainability lending, whilst David Weavers is experienced in event-driven transactions. Promoted to partner in December 2023, Bevan Peachey is knowledgeable in project finance matters.

Responsables de la pratique:

Deemple Budhia; Jesse Fairley


Autres avocats clés:

Guy Lethbridge; John Powell; Tom Hunt; David Weavers; Debbie Booth; Bevan Peachey; Sarah DeSourdy-Hastings; Matthew Consedine


Les références

‘The banking and finance team at Russell McVeagh has a depth of experience that makes them stand out.’

‘Bevan Peachey’s project finance knowledge is second to none in the New Zealand market. His in depth analysis and ability to view issues from a commercial perspective is a valuable asset for his clients.’

‘Jesse Fairley’s practical advice ensures transactions run smoothly.’

Principaux clients

ANZ Bank New Zealand Limited


Westpac New Zealand Limited


New Zealand Local Government Funding Agency Limited


Kiwi Property Group Limited


Fisher Funds


UDC Finance Limited


Bank of New Zealand


National Australia Bank


Heartland Bank Limited


ASB Bank Limited


Genesis Energy Limited


Principaux dossiers


  • Advised UDC Finance Limited on the establishment of a new warehouse trust with Bank of America and their third term securitisation, the largest securitisation in the NZ market.
  • Advised a joint venture between Genesis Energy and FRV Australia on the development and project financing of the 63 MW Lauriston solar farm – the largest solar farm in New Zealand to reach financial close, with generation expected to commence late 2024.
  • Advised Bank of New Zealand on the issue of $375 million perpetual preference shares to New Zealand investors.

Simpson Grierson

Simpson Grierson regularly advises clients on a wide range of financings, including real estate, acquisition, project and sustainability. The firm further assists local governments with their loan facilities and debt programmes. Spearheading the practice, Josh Cairns focuses on corporate and project financing. Within the team, Andrew Harkness is an acquisition finance veteran, whilst Dominic Toomey specialises in sustainable finance matters. Stuart Evans further widens the firm’s expertise, adding his knowledge in real estate finance to its repertoire. Zelda Gower and Matthew Brew are also notable members of the team.

Responsables de la pratique:

Josh Cairns


Autres avocats clés:

Andrew Harkness; Stuart Evans; Dominic Toomey; Zelda Gower; Edward Norman; Matthew Brew


Les références

‘Results-focused and able to quarantine potential risks that could emerge.’

‘Andrew Harkness stands out for his knowledge, engagement and delivery.’

Principaux clients

Westpac New Zealand


ASB Bank


Bank of New Zealand


United Overseas Bank


MUFG Bank, Ltd


The Treasury (New Zealand Government)


Kiwibank


Hong Kong and Shanghai Banking Corporation


China Construction Bank (New Zealand) Limited


Industrial and Commercial Bank of China (New Zealand) Limited


Bank of Queensland


Arena Global Investors


Nelson City Council and Tasman City Council


Port Nelson Limited


Nelson Airport Limited


Infrastructure Holdings Limited


Dunedin City Treasury Limited


Pallas Capital


Mount Capital


Principaux dossiers


  • Advised on the design and establishment of a new treasury vehicle for Port Nelson and Nelson Airport, and on the establishment of its pathfinder financing programme.
  • Acted for Barings Australia Pty Ltd and Massachusetts Mutual Life Insurance Company on their NZ$80 million syndicated development funding to major Australian property developer Winton Group.
  • Acting for the New Zealand Government (the Treasury) on the most significant infrastructure finance programme currently underway in New Zealand, namely its new Infrastructure Funding and Financing programme.

Anderson Lloyd

With four offices spread across New Zealand, Anderson Lloyd is able to provide regional support to its clients. The firm is particularly skilled at handling PPP refinancings and renewable project financings. Geoff Busch, on top of heading the practice, specialises in acquisition, project and real estate finance matters. Emma Kerr is a notable member of practice, with experience in both New Zealand and the UK. Salam Bassilli and Bryony Gallaher  add a wide range of experience, including in restructuring and refinancing.

Responsables de la pratique:

Geoff Busch


Autres avocats clés:

Emma Kerr; Salam Bassilli; Bryony Gallaher


Les références

‘Strong in the renewable energy space.’

‘Geoff Busch is thorough and effective in getting to the agreed form of financing documentation.’

‘Technically as good as the large firms, but more pragmatic and efficient.’

Principaux clients

Accident Compensation Corporation


ASB Bank Limited


ANZ Bank New Zealand Limited


Bank of New Zealand


Kiwibank Limited


Pioneer Capital Private Debt I LP


Rockit Global Limited


IHC New Zealand Incorporated


Mt Cardrona Station Village Limited


Laybuy Group Holdings Limited


Les Mills Holdings Limited


ShapEd NZ LP


Learning Infrastructure Partners LP


Next Step Partners LP


SecureFuture Wiri Limited


Future Schools Partners LP


Principaux dossiers


  • Advised Westpac New Zealand Limited on the portfolio project financing of solar farms sponsored by Aquila and Far North Solar Farms.
  • Advised Sealord Group on its financing of the acquisition of Independent Fisheries.
  • Advised ASB Bank on a sustainability linked loan to Landcorp Farming Limited.

Anthony Harper

Anthony Harper advises a wide range of lenders, including finance companies and domestic and international banks, on a wide range of matters, from property and project finance to syndicated corporate facilities and securities support. Nick Summerfield leads the team which contains Nigel Oliver, who is experienced in financing matters within the agribusiness and aquaculture sectors. Grant Goldsmith is focused on leveraged acquisition finance and is a specialist in public housing financing. Alice von Batenburg specialises in property and development finance.

Responsables de la pratique:

Nick Summerfield


Autres avocats clés:

Grant Goldsmith; Nigel Oliver; Alice von Batenburg


Principaux clients

ASB Bank Ltd


Bank of China (New Zealand) Limited


Bank of New Zealand


China Construction Bank (New Zealand) Ltd


Electra Ltd


First Mortgage Managers Limited


Gold Band Finance Ltd


Heartland Bank Ltd


HP Capital Ltd


Industrial and Commercial Bank of China (New Zealand) Ltd


Kiwibank Ltd


Longreach Credit Investors


Macquarie Bank Limited


Mainland Capital Ltd


MaxCap Group Pty Ltd


Mutual Credit Finance Ltd


NPD Group Limited


Westpac Banking Corporation


Westpac New Zealand Ltd


Principaux dossiers


  • Assisting Scales Corporation with lending facility requirements for the establishment of a joint venture in Europe for its pet food ingredients business, where Scales Corporation is the lender of development finance and working capital finance to the joint venture company.
  • Acting for Links Group Holdings on its establishment as a holding company to hold shares in two wine and one beer brewing companies, which included debt, private funding and shareholding restructuring.
  • Acting for NPD Group Limited on the funding arrangements for an MBO, which included super senior working capital facilities, term debt provided by an offshore fund, and a significant vendor financing arrangement.

Dentons New Zealand

Led by the ‘excellent’ Liz Lim, Dentons New Zealand advises clients on corporate financing, asset-based financing, debt capital markets, restructuring and compliance matters. Its clients include corporates, financial institutions, funds and banks. Lim’s experience includes securitisation support, and she is well-versed in supporting overseas lenders. Within the team, Pauline Ho regularly assists clients with structured lending and real estate finance.

Responsables de la pratique:

Liz Lim


Autres avocats clés:

Pauline Ho


Les références

‘The team is responsive, engaged, experts in their field and just generally great to deal with.’

‘Dentons have a collaborative style, informed by good sense of commerciality.’

‘Liz Lim is great – she is an expert in her field, but also commercial and pragmatic.’

Principaux clients

Te Rūnanga o Toa Rangatira


Pro-invest Group


DLA Piper New Zealand

DLA Piper New Zealand offers ‘market-leading expertise’ in renewable energy financing, with experience in related securitisations. The firm also specialises in loan portfolio asset transactions. Michael Thompson oversees the team, with insight into leveraged, project, real estate and structured finance. Rachel Brown has a niche in performing and non-performing loan portfolio sales. Jacob Nutt is also of note, adding his experience in renewable energy project finance to the firm’s specialism.

Responsables de la pratique:

Michael Thompson


Autres avocats clés:

Rachel Brown; Jacob Nutt


Les références

‘Services felt bespoke and personalised for the need of our bank.’

‘All the staff and partners are well qualified with experience working in key financial centers around the world. This gives them the ability to leverage their cross knowledge and resources to help with transnational transactions.’

‘The team, especially Michael Thompson provides very bespoke, fit for purpose value-added responses to meet the client’s requirements.’

Principaux clients

New Zealand Green Investment Finance


Bank of Queensland


New Zealand Green Investment Finance


Pacific Equity Partners


Aquila Capital


Aareal Bank A.G.


Principaux dossiers


  • Advised New Zealand Green Investment Finance in connection with the $170 million financing of solarZero under its new Solar Finance Program.
  • Advised Bank of Queensland in connection with the sale of its c. $230 million New Zealand loan portfolio to UDC Finance Limited.
  • Advised Aareal Bank A.G in connection with its first transaction in New Zealand and first multi-jurisdiction matter in Asia Pacific.

Lane Neave

Lane Neave regularly advises banks and financial institutions on development funding transactions and has particularly experience assisting on the creation of property funding structures. The firm is also well-versed in note issuances and mezzanine loan facilities. Evelyn Jones, who specialises in securitisation and structured products, leads the team. Joshua Jones joined the practice in February 2024 from Chapman Tripp, adding cross-border acquisition and leveraged finance experience.

Responsables de la pratique:

Evelyn Jones


Autres avocats clés:

Joshua Jones


Les références

‘Evelyn Jones and the team are prompt and efficient and are able to accept the bank’s requirements.’

‘Evelyn Jones is very knowledgeable and has great work ethnic.’

‘Lane Neave’s team covers the whole of New Zealand with over 100 years of experience. The coverage they provide across the country is hard to replicate by other law firms.

Principaux clients

Bank of New Zealand


ANZ Bank New Zealand Limited


Commonwealth Bank of Australia


Bank of China


China Construction Bank


Vincent Securities Limited


Service Foods Limited


Fisher Funds Management Limited


Public Trust


Unity Credit Union


Limelight Financial Services Limited


BT Mining Limited


Ticketek Group


Principaux dossiers


  • Acted for Fisher Funds Management Limited in relation to the mezzanine subscription of Class B to E Notes by its managed funds to an existing securitisation programme established by MTF Finance Limited.
  • Acted for Service Foods Limited and its related entities on the restructuring of its debt facilities with its banking syndicate.
  • Advised the Ticketek Group on New Zealand law aspects of the amendment and restatement of its existing facility, and new financing which was partly applied to repay two of the existing mezzanine facilities.

Webb Henderson

Frequently handling cross-border transactions for its clients, Webb Henderson advises clients on acquisition financings, including leveraged financings, structured finance and debt capital markets issuances. Nicole Xanthopol, the firm’s head of practice, advises across the sector, with experience in derivatives, securitisations, development financings and tax-structured financings.

Responsables de la pratique:

Nicole Xanthopol


Principaux clients

Indevin Group Limited


Tomlinson Core Land Limited


Argenta Limited


DebtManagers


ANZ Bank New Zealand Limited


Public Trust


Australia and New Zealand Banking Group Limited


Pioneer Capital and Silvertree Equity Partners LLP


Allegro Funds


Electromotiv


Fonterra


Anchorage Capital Partners


Guardians of the New Zealand Super Fund


Sustainable Fleet Finance


Spark


Halter


Principaux dossiers


  • Advised Public Trust on its role as trustee, security trustee and agent for the award-winning $170m NZGIF Solar Finance securitisation programme.
  • Advised Anchorage Capital Partners on the leveraged financing of its acquisition of Equipment, Leasing & Finance Holdings Limited.
  • Advised Anchorage Capital Partners on their acquisition of the Evolve Childcare business, which provides ~110 daycare facilities across New Zealand.