Board Chair Allison Arthur-Young said, “Congratulations to all of our clients and their advisers who are finalists ahead of this year’s INFINZ Awards – we’re extremely proud to have assisted on half of the dozen transactions noted as finalists and thank our clients for choosing us to work alongside them on these market-leading transactions, undertaken in a challenging environment.”
Some of the significant transactions the firm advised on that are nominated ahead of the Awards include:
NZ Debt Market Issue of the Year
· Kiwibank Issue of $275m of subordinated notes
National Practice Group Chair for Banking and Finance partner Guy Lethbridge led the Russell McVeagh team advising Kiwibank on its retail offer of tier 2 notes quoted on the debt market of NZX.
M&A Transaction of the Year
· $762m sale of UDC Finance by ANZ to Shinsei Bank
Russell McVeagh, led by Corporate partner Ian Beaumont and Banking and Finance partner Deemple Budhia, advised ANZ Bank New Zealand on the milestone sale of its asset finance business, UDC Finance Limited, to Japan’s Shinsei Bank (read more about this here).
· Sale of Ultrafast Fibre Limited for $854m
Led by Corporate partner Mei Fern Johnson, Russell McVeagh advised WEL Networks on the sale of its 85% stake in Ultrafast Fibre Holdings, as part of the sale of that entire significant infrastructure business to First State Investments (more on this here).
NZ Equity Market Transaction of the Year
· Auckland International Airport: $1.2bn capital raise consisting of a $1bn fully underwritten placement and a $200m non-underwritten share purchase plan (SPP)
Led by Ian Beaumont, the firm advised Auckland Airport on its capital raise by way of an underwritten placement and share purchase plan (the largest secondary capital raising in New Zealand’s history).
· Kathmandu: $207m equity raise via a $30m placement and a $177m accelerated non-renounceable entitlement offer
Russell McVeagh was lead adviser to the underwriting syndicate of Craigs Investment Partners, Credit Suisse, Forsyth Barr and Jarden on the equity raising. The firm’s team was led by Corporate partner David Raudkivi on what was the first non-renounceable entitlement offer of its kind under the new class waivers issued by NZX.
Debt Deal of the Year
· Endeavour Warehouse Facilities to assist Shinsei Bank Limited’s NZD$762m acquisition of UDC Finance Limited
Deemple Budhia advised UDC on the establishment of its landmark $2bn AAA rated auto and equipment finance-backed syndicated securitisation programme, New Zealand’s largest ever non-bank securitisation. A stapled financing to ANZ’s sale of UDC to Shinsei Bank, this funded into the completion of the share sale, and Russell McVeagh advised on the structuring, syndication and implementation of the transaction (more here).
The winners of the INFINZ Awards categories will be presented at a Gala Dinner on Tuesday 18 May 2021, at Shed 10, Queens Wharf, Auckland.