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.
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