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.
Banking and finance in New Zealand
Bell Gully
Praxisleiter:
Jennifer Gunser
Weitere Kernanwälte:
Murray King; David McPherson; Zac Kedgley-Foot; Sarah Anderson-Butler; Sam Dykes
Referenzen
‘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.’
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Paul Farrugia
Weitere Kernanwälte:
Miriam Andrews; Daniel Collins; Paul Appleyard
Referenzen
‘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.’
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Leigh Kissick
Weitere Kernanwälte:
Cathryn Barber; Mark Reese; Luke Ford; Gerard Souness; Emma Sutcliffe; Jana Hitchcock
Referenzen
‘Mark Reese and Leigh Kissick are excellent communicators, responsive and find efficient solutions to problems.’
‘Commercial, easy to deal with, knowledgeable.’
Kernmandanten
solarZero
Wellington City Council
OTPP
Precinct Properties
Winton Properties
Pepper NewZealand Limited
Westpac NewZealand
Bank of NewZealand
Beca Group Limited
ANZ Bank
Highlight-Mandate
- 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.
Praxisleiter:
Jeremy Muir; Steve Gallaugher
Weitere Kernanwälte:
Kate Lane; Chris O’Brien; Simon Gray; Allison Hancock
Referenzen
‘I’ve done several transactions with Steve Gallaugher (Partner Banking & Finance). He makes himself readily available to assist with transactions, one of the more experienced Banking Partners in the NZ so seems to know whether certain international terms are acceptable in the NZ market.’
‘Skilled team with up to date knowledge of what should be expected in a large Bank Facility agreement. Managed to get some good wins in the terms in our recent syndicated facilities agreement. Excellent industry relationships with the Banks and their advisors which helps to get the deal done. Can operate under tight deadlines.’
‘Have a very broad range of experience across team, with skills across multiple forms of corporate financing. Customer and outcomes focused so know when to push hard for what matters to clients and when to give on an item to save cost and keep documentation progressing. Offers good broad range of market regulatory insights that are useful.’
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Deemple Budhia; Jesse Fairley
Weitere Kernanwälte:
Guy Lethbridge; John Powell; Tom Hunt; David Weavers; Debbie Booth; Bevan Peachey; Sarah DeSourdy-Hastings; Matthew Consedine
Referenzen
‘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.’
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Josh Cairns
Weitere Kernanwälte:
Andrew Harkness; Stuart Evans; Dominic Toomey; Zelda Gower; Edward Norman; Matthew Brew
Referenzen
‘Results-focused and able to quarantine potential risks that could emerge.’
‘Andrew Harkness stands out for his knowledge, engagement and delivery.’
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Geoff Busch
Weitere Kernanwälte:
Emma Kerr; Salam Bassilli; Bryony Gallaher
Referenzen
‘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.’
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Nick Summerfield
Weitere Kernanwälte:
Grant Goldsmith; Nigel Oliver; Alice von Batenburg
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Liz Lim
Weitere Kernanwälte:
Pauline Ho
Referenzen
‘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.’
Kernmandanten
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.
Praxisleiter:
Michael Thompson
Weitere Kernanwälte:
Rachel Brown; Jacob Nutt
Referenzen
‘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.’
Kernmandanten
New Zealand Green Investment Finance
Bank of Queensland
New Zealand Green Investment Finance
Pacific Equity Partners
Aquila Capital
Aareal Bank A.G.
Highlight-Mandate
- 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.
Praxisleiter:
Evelyn Jones
Weitere Kernanwälte:
Joshua Jones
Referenzen
‘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.’
Kernmandanten
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
Highlight-Mandate
- 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.
Praxisleiter:
Nicole Xanthopol
Kernmandanten
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
Highlight-Mandate
- 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.