Capital markets

Overview

We have an exceptional track record

We have an exceptional performance record in capital markets work, assisting clients with IPOs, direct listings, equity raises, rights issuances, share placements, debt, hybrid and derivative offerings.

We act for a range of capital markets participants, including:

Listed and unlisted issuers
Arrangers and lead managers
Underwriters
Supervisors
Institutional shareholders
Boards and independent directors.

We understand the complexity

We understand the complexity of operating in a highly regulated environment and have a deep knowledge of the various regulatory frameworks capital markets participants must comply with, including the Financial Markets Conduct Act (FMCA), NZX Listing Rules and Takeovers Code.

We have excellent working relationships with capital markets regulators, including NZ RegCo, the Takeovers Panel and Financial Markets Authority.

We guide our clients expertly and efficiently

We guide our clients expertly and efficiently to raise capital and operate in New Zealand's capital markets. We work seamlessly as a national practice and as part of an international team on cross-border securities offerings. We are the principal legal adviser to a number of listed entities in New Zealand, and we act for overseas entities with New Zealand interests.

We have significant experience bringing new issuers and financial products to market, including coordinating legal counsel across multiple jurisdictions to facilitate overseas programmes and/or multi-jurisdictional offers.

"Very proactive. Very responsive. Very professional in services and advice provided."

IFLR1000

"Organised, over the detail, technically astute, strong relationships with regulators."

IFLR1000

"Professional, robust advice and practical."

IFLR1000

Experience

Sector / Expertise

International

International connections

Work highlights

Contact Energy

We advised Contact Energy (NZX, ASX: CEN) on its debt issuance programmes, including on:

Its offer of $225m green capital bonds to New Zealand retail and institutional investors and quotation on the NZX Debt Market (NZ Debt Market Issue of the Year - 2022 INFINZ Awards). Read more here
The issue and quotation on the NZX Debt Market of numerous series of unsecured, unsubordinated fixed rate senior green bonds under the FMCA exclusion for quoted financial products
Its NZ$ Commercial Paper and Short-Term Floating Rate Note Programme
New Zealand law aspects of its US$ and A$ wholesale debt programmes.

SBS Bank

We advised SBS Bank (NZX: SBS) on:

Its inaugural NZ$150m offer of senior fixed rate bonds to New Zealand retail investors and quotation on the NZX debt market
The establishment of its continuous offer of Tier 2 capital bonds to New Zealand retail investors
The issuance of its commercial paper and wholesale bonds.

EastPack

We advised EastPack on:

Its inaugural NZ$40m offer of unsecured, subordinated notes to New Zealand retail investors
Its capital restructure and the establishment of its continuous offer of ordinary shares to New Zealand retail investors.

Kiwibank

We advised Kiwibank on New Zealand law aspects of its A$ Debt Issuance Programme for wholesale investors.

KfW

We acted as New Zealand counsel to KfW on its Australian and New Zealand Medium Term Note Programme including the NZ$150m and NZ$250m Kauri Bond issuances in the New Zealand wholesale market.

Sixth Street

We advised Sixth Street:

As part of a consortium with BGH Capital on the consortium's NZ$1.63b successful acquisition of Pushpay Holdings (NZ, ASX: PPH) by way of scheme of arrangement
On the block trade acquisition of a cornerstone stake in Pushpay Holdings (NZ, ASX: PPH).

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