
Russell McVeagh has advised UDC on the establishment of its landmark $2 billion AAA rated auto and equipment finance-backed syndicated securitisation programme, New Zealand’s largest ever non-bank securitisation.
Partner Deemple Budhia, working closely with senior associate Jesse Fairley, led the transaction. Partner Fred Ward provided tax advice. Support was also provided by senior associates Lucy Becke and Ling Yan Pang and solicitors James Horner and Millie Bidwill.
The securitisation was a stapled financing to ANZ’s sale of UDC to Shinsei Bank, funding into the completion of the share sale. Russell McVeagh advised on the structuring, syndication and implementation of the transaction.

UDC’s treasurer recognised the value the Russell McVeagh team brought to the securitisation, stating:
“We have been delighted to have the Russell McVeagh team involved in successfully bringing this exciting and significant transaction to the New Zealand securitisation market.
Russell McVeagh more than rose to the challenge of delivering this transaction when you take into consideration the pressure of an M&A timeline and structuring the programme to accommodate the varied range of products UDC provides finance for, in circumstances made even more difficult due to the significant disruption created by COVID-19.
The quality of advice UDC received on this transaction from Russell McVeagh is well demonstrated by the high level of participation from the six lenders in the syndication group that delivered a great outcome with NZ$2 billion of funding secured across the two securitisation warehouse structures.”
- JunoLegal Grows With Another NZ In-House Counsel HireNew Law firm Juno Legal has recruited another senior New Zealand In-house Counsel with its recruitment of former BP […] More
- Former COO of Biopharmaceutical Company Sentenced For Accounting FraudAudrey Strauss, the United States Attorney for the Southern District of New York, announced that WILLIAM TAYLOR, the former chief […] More
- What’s Happening At Meredith Connell With Its Litigator Departures?Why are litigators departing from Meredith Connell? More
- Russell McVeagh Appoint Female ChairRussell McVeagh Partner and Board member Allison Arthur-Young has been elected as Russell McVeagh’s Board Chair. Arthur-Young, who has been a […] More
- Linklaters Set To Join The Ranks Of The Female Law Firm LeadersThree candidates left in the race to succeed Charlie Jacobs as Linklaters’ senior partner It looks like Magic Circle […] More
One Ping
Pingback:Russell McVeagh Advises UDC On $2 Billion Auto And Equipment Finance-backed Securitisation - Credit News