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Debt Capital Markets

Our debt capital markets team is a leader in its field. We have structured and implemented some of New Zealand's most notable debt capital raisings.

Our specialists have a comprehensive understanding of the markets and their regulatory framework. We work collaboratively with our clients and other advisers to find the best solutions for our clients' funding objectives.

We act for issuers (corporates, financial institutions, and local authorities), underwriters, managers, arrangers, trustees, paying agents, and bondholders.

We have advised on the full spectrum of debt securities transactions, both wholesale and retail. This includes:

  • bond and note issues (secured, unsecured, and credit-wrapped)
  • commercial paper programmes (including mortgage and asset-backed programmes), and
  • the issuance of hybrid and convertible/exchangeable instruments.

Examples of our work

  • Auckland Council - $4 billion retail bond programme, $500 million secured commercial paper programme, and $500 million medium-term note programme
  • Coca-Cola Amatil (NZ) - United States private debt placement, wholesale issue of medium-term notes (MTNs), and participation in the Australian group's US$2 billion wholesale euro-MTN programme
  • GE Capital New Zealand - $2 billion commercial paper programme
  • Goldman Sachs - lead manager on Vector's $1 billion credit-wrapped bond issue
  • Fisher & Paykel Finance - $400 million receivables-backed master trust securitisation programme
  • Guinness Peat Group - various capital note issues, ranging from $200 million to $350 million
  • Kommuninvest - establishment of bond issuance programme to allow for the issue of Kauri bonds
  • Toll Group - private placement of US$275 million notes in the United States (acting for the issuer)
  • Mighty River Power (now Mercury) - private placement in the United States of US$275 million notes (acting for the United States investors)