Securitisation and structured finance
Mayne Wetherell’s structured finance and securitisation practice stands at the very top of the New Zealand market.
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We advise on the structuring, establishment and ongoing operation of securitisation platforms and other structured funding arrangements across asset classes, including RMBS, auto and consumer loans, credit card, agri and trade receivables, lease portfolios and other esoteric assets. Our clients include originators, arrangers, trustees, investors and warehouse funders, all of whom rely on us for strategic, technically assured advice. We have shaped the structures underpinning many of New Zealand’s benchmark transactions and continue to innovate as the market evolves. With a deep understanding of market trends, we deliver bespoke structured funding solutions to navigate tax, regulatory and other features.
What sets Mayne Wetherell apart is our ability to combine market insight with structuring ingenuity. We’ve led the majority of securitisation transactions in the market, pioneering terms that later become industry standards. We regularly advise on first-of-their-kind asset classes and complex cross-jurisdictional transactions. Clients value our seamless coordination across finance, tax and regulatory disciplines, our ability to anticipate investor and rating-agency expectations and our precision in drafting and negotiation.
Our services
Work Highlights
Advised Bank of New Zealand in relation to the provision of senior warehouse funding to Pepper Money in relation to its acquisition of HSBC NZ’s residential mortgage portfolio in 2023 (financial services).
Advised Avanti Finance in respect of its securitisation programme involving multiple warehouses for auto loans, unsecured personal loans, small business loans and residential mortgages, and issuances of residential mortgage-backed and asset-backed securities; and its corporate funding requirements including corporate facilities and wholesale medium term notes (financial services).
Advised KKR, Värde Partners and Deutsche Bank on its acquisition and financing of GE Capital’s A$8bn consumer finance business (financial services).
Advised New Zealand and offshore financiers in relation to the provision of stapled securitisation warehouse finance to UDC to support the acquisition of UDC by Shinsei in 2020 as well as subsequent warehouse financing since that date (financial services).
Advised CBA, Westpac and MUFG as warehouse facility providers and arrangers (as applicable) in relation to MTF’s securitisation programme including multiple warehouses for auto and personal loans and issuances of auto loan backed securities (financial services).
Advised Goldman Sachs in relation to the provision of a NZ$300m senior warehouse funding facility provided to Vincent Capital, an Auckland-based property finance company specialising in funding for builders and developers (property).
Advised Tax Traders in respect of the establishment of the first asset-backed commercial paper programme secured by provisional tax deposits held on account with Inland Revenue (tax services).
Advised BNZ as warehouse facility provider and arranger in relation to Turners Finance’s securitisation programme including Turners Finance’s warehouse for auto loans and issuances of auto loan backed securities (financial services).
Advised Prospa in respect of the establishment of its New Zealand securitisation warehouses (financial services).
Advised ASX-listed FleetPartners in respect of its New Zealand securitisation warehouses, New Zealand ABS issuances and its New Zealand corporate facilities (fleet management).
Recognised for excellence, trusted by clients
Possessing a ‘top quality team across the board’, Mayne Wetherell specialises in capital markets and various forms of financing including structured, leveraged and syndicated. Its clients include major New Zealand companies in a broad array of sectors, from aviation to energy. The team is led by Will Tipping, who focuses on acquisition financing and special situations. David Wetherell is a veteran lawyer in capital markets and finance matters. Mei Nah and Daniel Meikle focus on securitisation and debt capital markets. Cameron Peachey is also noted for advising on acquisition and project finance matters.
Recognised for excellence, trusted by clients
The firm seems to have a simple strategy which is less about bells and whistles and more about top quality lawyers providing their services in an excellent manner.
Recognised for excellence, trusted by clients
Top quality team across the board from partners to associates. Very capable and deep bench.
Recognised for excellence, trusted by clients
Given the breadth and depth of knowledge within the team and the focus on client development, maintenance and service, the responsiveness and service levels are excellent.
Our experts
Partner
Cameron
Peachey
Partner
Daniel
Meikle
Partner
Dave
Wetherell
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