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Debt capital marketsDebt capital markets

The legal edge to your debt structuring

Our debt capital markets team advises issuers, investors, arrangers, trustees and other intermediaries on a broad range of domestic and international capital market transactions.

We have a strong securities and capital markets practice and an extensive track record acting for major corporates and financial institutions on local and international funding programmes. 

We are known for our expertise in structuring, negotiating, documenting and advising on the full range of debt products offered in the New Zealand and international capital markets.

We are leading advisers on structuring transactions to comply with, and take advantage of the opportunities afforded by, the new Financial Markets Conduct Act 2013.

Ranked Tier One for capital markets work by independent legal directories IFLR1000 2016 and Asialaw Profiles 2016.

We have advised

  • on Mighty River Power's NZ$300m oversubscribed capital bond issue and NZX Debt Market listing
  • on Kauri bond deals led by ANZ Bank New Zealand and Bank of New Zealand, Deutsche Bank and Westpac for Kommunalbanken Norway (KBN), the European Investment Bank (EIB), Muifin, Nordic Investment Bank, BNG and Rentenbank
  • Christchurch International Airport on an NZ$75m public retail bonds issue
  • Public Trust and the covered bond guarantor in respect of covered bond issuances by ANZ, ASB and Kiwibank, and also on the update of covered bond programmes for ANZ, ASB, BNZ and Kiwibank
  • Heartland Bank on the issuance of subordinated bonds that qualify as Tier 2 Regulatory Capital under the Basel III regime
  • Z Energy on its retail issue of NZ$135m senior, secured seven-year bonds
  • Insurance Australia Group Ltd on its NZ$350m regulatory capital issue (winner of the INFINZ Debt Deal of the Year), listed on NZDX
  • Mighty River Power on its retail and wholesale bond programmes and issues, including its retail issue of NZ$300m unsecured, subordinated capital bonds
  • Powerco on its debt market programme and US private placements
  • Blue Star Group on its capital reconstruction, including refinancing its NZ$105m capital bonds
  • the New Zealand Government as the guarantor of various debt security issues and collective investment schemes by eligible banks under the Crown Wholesale Funding Guarantee Scheme
  • BNZ and National Australia Bank on the NZ$450m and NZ$260m public offers of perpetual non-cumulative shares
  • Bay of Plenty Regional Council on the NZ$200m public offer of perpetual preference shares in its subsidiary Quayside Holdings (owner of 55% of Port of Tauranga)
  • Westpac on its covered bond, EMTN, 144A and commercial paper programmes
  • ASB Bank on its EMTN and commercial paper programmes
  • two of the four major New Zealand banks operating in New Zealand on their RMBS repo facilities
  • ALLCO Finance Gateway Trade Receivable Trusts and Scottish Pacific NZ on a NZ$200m trade receivables securitisation
  • the Trustee on Auckland International Airport's bond issues
  • APN Media (NZ) Limited on its retail bond issue and NZDX listing, which included an Australian parent guarantee
  • Spark, Meridian Energy, Mighty River Power, Contact Energy and Transpower New Zealand as the issuers of a range of wholesale and retail debt programme issuances in New Zealand and offshore markets
  • ANZ Bank New Zealand as arranger on various retail bond issues, including as arranger and underwriter of an issue of subordinated bonds by Powerco, as arranger of a bond issue by Solid Energy and as arranger and lead manager of an issue of perpetual, callable, non-cumulative preference shares for a Kiwibank subsidiary
  • ANZ Bank New Zealand and ASB as joint lead managers of a NZ$200m senior retail bond offer for Sky Network Television
  • Meridian Energy’s Board (as independent advisor to the Board) on its Renewable Energy Notes and Renewable Energy Bonds programmes

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