Structured Finance.

Pooling assets to access funding across diversified product classes.

Structured Finance.

Mayne Wetherell’s domestic and cross-border structured finance and securitisation expertise is widely regarded as being the best in the New Zealand market.

This has seen us act for either issuers or financial institutions on the establishment of nearly all of the significant securitisation structures in New Zealand. In addition to issuers and originators, we act for arrangers, warehouse/mezzanine lenders and trustees.

As part of that expertise, we are increasingly using securitisation structures or techniques as a means of acquisition financing, complementing our expertise in financial services M&A transactions.

Recent Transactions.

  • 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 (non-bank finance).
  • Eclipx Group Limited in respect of its New Zealand business, including the restructure of its securitisation warehouse, the recent New Zealand ABS bond issuance and the establishment of a warehouse in respect of its New Zealand commercial leasing business.
  • Prospa Group Limited on its establishment of a $45 million securitisation warehouse to fund its New Zealand SME lending business.
  • Latitude Financial Services in relation to its on-going funding programmes in New Zealand.
  • KKR, Värde Partners and Deutsche Bank on its acquisition of GE Capital’s A$8bn consumer finance business, and Bain Capital and Deutsche Bank on the acquisition of GE Capital’s commercial finance portfolio (non-bank finance).
  • Latitude on the establishment of its New Zealand Credit Card Master Trust securitisation programme (including the Series 2018-1 issuance).
  • Westpac as arranger and senior financier in relation to the establishment of Fisher & Paykel Finance’s Q Card securitisation programme and wholesale markets issuance.
  • Commonwealth Bank of Australia and Westpac on the establishment of the MTF auto receivables securitisation programme and subsequent term outs under the programme.
  • Deutsche Bank and Värde Partners on the key funding solution for Pepper’s acquisition of the NZ$1bn residential mortgage book from GE.
  • Structured leasing and sale and lease back transactions, redeemable preference share financing transactions and co-investment transactions.