[adrotate banner=”103″]
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.”
[adrotate banner=”101″]
- LegalAI News – Stanford Law Unveils AI Initiative Focused on the Legal Profession’s FutureSeptember 15, 2025 — Stanford, CA — Stanford Law School today announced the launch of the Legal Innovation through Frontier Technology… Read more: LegalAI News – Stanford Law Unveils AI Initiative Focused on the Legal Profession’s Future
- Kirkland & Ellis Partner Gets Pierced in Court to Seal Claire’s RescueBigLaw Partner Saves Claire’s, Pays with His Ear Claire’s—the teenage rite-of-passage retailer better known for cheap studs and squealing… Read more: Kirkland & Ellis Partner Gets Pierced in Court to Seal Claire’s Rescue
- Reed Smith Announces Changes to Practice Group LeadershipNEW YORK — Global law firm Reed Smith today announced several changes to its department and practice group leadership.… Read more: Reed Smith Announces Changes to Practice Group Leadership
- Proskauer Opens Charlotte Office and Adds Finance PartnersNEW YORK, September 15, 2025 – Proskauer announced today the addition of a four partner Leveraged Finance team to its… Read more: Proskauer Opens Charlotte Office and Adds Finance Partners
- Boodle Hatfield welcomes new Private Client & Tax Partner, Dom RothbarthSeptember 2025: Boodle Hatfield, the leading private wealth and real estate law firm, is delighted to announce the arrival of… Read more: Boodle Hatfield welcomes new Private Client & Tax Partner, Dom Rothbarth