Our Work

2008

Vector Limited Euro Medium Term Note Programme
Bell Gully acted for Vector Limited on the establishment of its European MTN programme, the first programme established by a New Zealand electricity utility and the first programme established by a New Zealand issuer for some years.

CPPIB takeover offer for Auckland International Airport
Bell Gully advised Canada Pension Plan Investment Board in connection with the funding of its partial takeover offer for, and proposed amalgamation with, Auckland International Airport Limited.

CLS Bank International
Bell Gully is advising CLS Bank International on the proposed designated settlement system legislation.

International Swaps and Derivatives Association
Bell Gully is advising the International Swaps and Derivatives Association, Inc. on the broad financial sector reform currently being carried out in New Zealand.

New Zealand's emissions trading scheme
Bell Gully has advised the Ministry of Economic Development and the Ministry for the Environment on various aspects of the emissions trading scheme to be introduced in New Zealand.

2007

Rank Group purchase of Alcoa Inc's consumer packaging business
Bell Gully advised Rank Group on all financing aspects of its acquisition of the consumer packaging business of Alcoa Inc, including co-ordinating financial close in 12 jurisdictions across Europe, Asia and North and South America.

Ironbridge Capital acquisition funding of CanWest MediaWorks
Bell Gully acted for Ironbridge Capital Pty Limited, an Australian private equity firm, on the acquisition of 100% of CanWest MediaWorks (NZ) Limited (which operates television and radio stations in New Zealand), including advising on the structuring of the offer and entering into a lock-up agreement with CanWest MediaWorks Ireland Holdings in respect of its 70% interest in CanWest MediaWorks.

CBA Asset Holdings (NZ) Limited
Bell Gully advised CBA Asset Holdings (NZ) Limited on the sale and leaseback of the Aratere Ferry and on two aircraft leases.

Fletcher Building's acquisition of Formica and US private placement
Bell Gully advised New Zealand building products manufacturer Fletcher Building on the funding for its acquisition of US-based Formica Inc, resulting in the creation of the largest global manufacturer of decorative surfaces and high-pressure laminates in the world. We also advised in connection with an issue of long term notes by way of US private placement.

Registration of JPMorgan Chase Bank
We advised JPMorgan Chase Bank N.A. on its registration as a bank under the Reserve Bank of New Zealand Act.

Barclays Bank PLC Debt Issuance Programme
We acted as New Zealand counsel to Barclays Bank PLC in establishing an A$10 billion debt issuance programme in Australia and New Zealand.

World Bank and International Finance Corporation - debt issuance programmes
Bell Gully acted as New Zealand counsel to the World Bank and its affiliate International Finance Corporation on the establishment of their Debt Issuance Programmes in New Zealand and subsequent issues of Kauri bonds.

ANZ National bank project financing Synlait Limited
Bell Gully advised ANZ National Bank on the limited recourse funding for construction of a milk processing plant by Synlait Limited.

MARAC Finance securitisation
Bell Gully advised MARAC Finance Limited on the establishment of a securitisation programme for the funding of consumer and commercial receivables.

Bluestone Group - Sapphire IV
Bell Gully advised Bluestone Group Pty Limited on the establishment of its Sapphire IV Securitisation Trust (for its non-conforming mortgage products in New Zealand).

New Zealand Bankers Association derivatives documentation
We advised the New Zealand Bankers' Association on new derivatives documentation for the New Zealand banking sector.

Infratil acquisition of Trustpower
We advised ANZ National Bank Limited on funding for the acquisition by Infratil of a controlling shareholding in Trustpower Limited.

Rabobank NZ$ issue capability for MTN programme
Bell Gully acted for Rabobank on the establishment of a NZ$ issue capability for its A$ MTN programme in a transaction valued at A$7 billion.

Tauranga Energy Consumer Trust issue of redeemable preference shares
We advised ANZ National Bank Limited in an issue of redeemable preference shares by Tauranga Energy Consumer Trust.

Finance leasing for new Boeing 777-200ER aircraft
Bell Gully advised Air New Zealand on the financing structure for the Japanese Operating Lease (JOL) of a new Boeing 777 aircraft.  The US$127 million transaction was the first JOL for a wide-body aircraft under the new Japanese tax guidelines for Japanese partnerships.  It was also the first commercial aircraft financing involving a New Zealand Dollar denominated loan, the first time that the New Zealand Dollar (or any currency other than USD, JPY, GBP) has been combined with a JOL and the first JOL closed using Residual Value Support under the new Japanese tax guidelines. Bell Gully advised Air New Zealand on all aspects of the structure and related financing of the aircraft.  The deal was awarded Aircraft Leasing Deal of the Year – Australasia in Transport Finance Awards Yearbook 2006 and Asia Deal of the Year in Airfinance Journal 2006.

Securitisation of Reverse Equity Mortgages
We advised Bluestone Group Pty Limited in establishing a warehouse trust in anticipation of a future securitisation and associated financing arrangements with Westpac Banking Corporation for the launch of its reverse equity mortgage product in New Zealand. Bluestone Group offer specialist home and business loan products throughout Australia and New Zealand. The NZ$100 million transaction is New Zealand's first significant reverse equity mortgage securitisation.

Pacific Equity Partners acquisitions
Bell Gully advised Pacific Equity Partners on its NZ$250 million acquisition of New Zealand's largest poultry producer Tegel Foods Limited. The transaction involved senior, subordinated and mezzanine note issues with Westpac Banking Corporation, Bank of Scotland and Intermediate Capital Group. We also advised Pacific Equity Partners on its NZ$385 million acquisition of biscuit manufacturer Griffins. The transaction involved senior, subordinated and bridge facilities provided by ANZ National Bank and Deutsche Bank. These transactions are among the New Zealand's largest private equity deals

2006

Carter Holt Harvey refinancing
Bell Gully advised Carter Holt Harvey Limited and various subsidiaries in relation to its core debt facilities and funding for the acquisition of the Beverage Packaging Group (a US packaging group).  This was the largest syndicated lending transaction in the New Zealand market in 2006.

Superbank portfolio sale
Bell Gully is advising Superbank and St.George Bank on the exit by St.George Bank from its Superbank operations in New Zealand. The firm has advised on the successful sale of Superbank's residential mortgage portfolio to GE Money and on an agreement with Kiwibank to provide Superbank's deposit customers with a convenient transfer of their account balances. It is also advising on regulatory issues involving the Reserve Bank. The firm advised St.George Bank on the establishment of Superbank.