Expertise

Securitisation

Overview

Securitisation is a specialist financial product which is well established in New Zealand as an alternative to traditional bank funding.  Mortgage backed and finance receivables transactions are popular, with the largest transactions in recent years being undertaken by the banks issuing covered bonds and repo-eligible asset backed securities.

As a complex structured finance product, there are significant legal issues that need to be addressed in structuring and documenting a typical securitisation transaction.  In order to ensure that transactions are implemented as efficiently as possible and meet the parties’ objectives, specialist advice from experienced professionals is required.  We have a strong team of securitisation experts who are familiar with all the legal issues and understand the market and the requirements of the main players.  Our expertise and pragmatic approach mean we can assist clients to achieve the best results in all types of securitisation transactions.

Our securitisation team has worked on structuring, documenting and implementing many types of securitisation transactions for many different asset classes including residential and commercial mortgages, vehicle and yellow goods lease receivables, consumer finance and credit card receivables.  Our team is made up of lawyers with experience in each of the specialist areas including banking and finance, tax, Personal Property Securities Act, consumer credit legislation, land law, capital markets and Financial Markets Conduct Act 2013 and RBNZ requirements.

We regularly advise originators, arrangers, trustees, security trustees, liquidity and support facility providers and rating agencies on all types of securitisation transactions including covered bonds.



Work highlights

Advising financiers

in relation to the Fisher & Paykel Q Card securitisation trust

Acting for financiers

in relation to securitisation programmes for Co-Op Bank and Heartland Bank

Advising the warehouse funder and liquidity facility provider

to the RESIMAC mortgage-backed securitisation trust

Advising arrangers and warehouse lenders

to the FleetPartners asset-backed securitisation trust

Advising the security trustee

in a €5b global covered bond programme for a registered bank

Advising a bank

in relation to its participation in the Heartland asset-backed commercial paper programme
more

Our team

Jan Etwell

Jan Etwell

Partner, Christchurch

Jan specialises in banking and finance, commercial and company law. Her experience includes acting as instructing solicitor...

  • DDI +64 3 371 3514
  • M +64 21 655 604

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Paul Farrugia

Paul Farrugia

Partner, Auckland

Paul specialises in banking and finance and has a broad range of experience in domestic and cross-border financings with an emphasis on...

  • DDI +64 9 358 7042
  • M +64 21 763 476

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Peter Owles

Peter Owles

Partner, Auckland

Peter is a specialist in all aspects of banking and finance law, with over 25 years experience. As well as general banking and finance...

  • DDI +64 9 358 7047
  • M +64 21 750 509

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Simon Jensen

Simon Jensen

Partner, Wellington

Simon specialises in financial sector regulation, payments and clearing systems, and projects and advice for financial institutions...

  • DDI +64 4 462 0459
  • M +64 274 476 412

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