DEBT CAPITAL MARKETS

DLA Piper New Zealand acts for issuers, trustees and others, providing advice on a wide range of debt capital market transactions and securitisations. We deliver advice on the issue of the full range of securities to wholesale or retail markets in New Zealand.

We can also call upon the assistance of any one of our global offices in more than 30 countries worldwide for our domestic and international clients. Across the firm’s other practice areas in New Zealand and internationally we have full knowledge of market regulation in all principal financial centres.

DLA Piper New Zealand responds to clients with innovative solutions, tempered by risk mitigation. We also work closely with our equity capital markets experts to assist.

EQUITY CAPITAL MARKETS

DLA Piper New Zealand has vast depth and experience in capital raisings and listings, including high profile Initial Public Offerings (IPOs).

The firm offers a full service from project managing capital raising and listing, to assisting with crucial technical issues such as tax, corporate compliance & governance.

DLA Piper New Zealand's specialist team has helped many New Zealand companies in listing on both the New Zealand and Australian stock exchanges (NZX and ASX). We have dual listing capability and technical skill in both jurisdictions.

We have sound working relationships with the NZX, ASX and the Financial Markets Authority (FMA).

A key part of our services includes on-going advice to listed issuers on NZX and ASX listing rule compliance, including the obtaining of waivers and regarding takeovers.

We have immediate access to worldwide resources in capital raising expertise.

We also work closely with our debt capital markets team, and will provide rigorous commercial advice on the most appropriate form of capital raising for business.

CAPABILITIES

  • Issue of debenture stock, bonds, notes
  • Hybrid and convertible instruments
  • Securities law
  • Tax advice on the issue of securities
  • Appraising corporate and capital structures
  • Undertaking and managing due diligences
  • Project management for the drafting of offer documents
  • Liaison with the FMA; seeking exemptions; registration
  • Preparation of listing applications including governance documents
  • Liaison with NZX and ASX; seeking waivers
  • Takeovers of listed entities
  • Liaison and compliance on offshore listing requirements
  • Corporate law, equity capital, governance

EXPERIENCE

Foodstuffs North Island Limited
DLA Piper New Zealand advised on Foodstuffs NZ$1.05billion RFP for banking services in November 2013. This involved the restructure of existing security structures, conversion to negative pledge group structure and negotiation of changes in security structure.

Next Capital
DLA Piper New Zealand advised on the funding of Next Capital's acquisition of Southern Spas (international group including New Zealand Limited Partnerships). It was a US$76 million cross-border deal with the USA and South Africa.

Transfield Services Group Limited
Working with DLA Piper internationally, DLA Piper New Zealand has advised Transfield Services Group on the New Zealand aspects of the cross-border refinancing. The total transactions in excess of NZ$100 million also involved working with Australia, USA, Chile and Canada.

Clydesdale Bank
Working with DLA Piper internationally, DLA Piper New Zealand has advised the Clydesdale Bank on New Zealand law aspects of security taken on cross-border funding transactions, legal opinion and PPSR advice. This involved working with Scotland and transactions in excess of NZD$50 million.

Hilton International Manage LLC
DLA Piper New Zealand advised the Hilton International Manage LLC in respect of negotiating replacement of bank guarantees of operator's obligations for certain New Zealand hotels. We also advised on Non-Disturbance Agreement and related matters.

Steadfast Insurance Brokers Pty Ltd
DLA Piper New Zealand advised on the 30.08% share acquisition of Rothbury Group Limited (RGL) by Steadfast Insurance Brokers Pty Ltd (Steadfast), in two separate stages. Stage one consisted of an initial purchase of a 17.90% interest in RGL, paid in cash. Stage two involved purchase of the remaining 12.18% interest in RGL, paid for by issued capital in Steadfast, through an IPO.

NZ Farming Systems (Uruguay) Limited
DLA Piper New Zealand advised on the establishment of the company as a subsidiary of PGG Wrightson Limited, its IPO and listing on NZX.

Nuplex Industries Limited
DLA Piper New Zealand acted for long term client Nuplex Industries Limited (dual listed on ASX and NZX) in its successful pro-rata renounceable rights issue of new ordinary shares to existing shareholders and placement of shares to institutional investors.

TOWER Limited
DLA Piper New Zealand has acted for TOWER for many years including through its evolution from Government Life Corporation, through demutualisation through a scheme of arrangement, its initial capital raising and listing on NZX and ASX, and the subsequent demerger of its Australian business.