Sustainable finance

We have advised clients across the full range of green and sustainability-linked financial products including loans, bonds and derivatives.

Our team regularly advises sustainability coordinators, lenders and borrowers on the origination of, or conversion to, sustainability-linked loans.

We assisted with New Zealand’s first sustainability-linked derivative and issuance of the first sustainability-linked bond. We have also assisted issuers and trustees with a range of different ‘environmental, social and governance’ or other labelled financial products. These include a number of sustainable debt securities, including the issuance of green bonds, gender bonds, health bonds and conversions to green bonds.

Outside the labelled financial products market, we also regularly advise emitters, financial institutions and forestry entities on emissions trading documentation including emissions trading derivatives.

Work highlights

Metlifecare sustainability-linked loan and green bonds
Advised Metlifecare on the re-financing of their bank loan facilities into an NZ$1.25 billion sustainability linked loan and the re-designation of its existing listed bonds as sustainability bonds.

Metlifecare sustainability-linked swap
Advised Metlifecare on its ‘sustainability-linked’ interest rate swap with Bank of New Zealand. This was the first sustainability-linked derivative in the New Zealand market.

ANZ Bank sustainability-linked loan
Advised ANZ Bank in connection with Contact Energy’s conversion of its existing NZ$305 million loan facilities into a sustainability-linked loan.

Asian Development Bank gender bond
Advised Asian Development Bank on New Zealand’s first ‘gender bond’ under its NZ$5 billion domestic medium term note programme. The proceeds for this 10 year, NZ$375 million Kauri issuance will be used to finance a pool of eligible projects that promote gender equality and women’s empowerment.

Asian Development Bank health bond
Advised Asian Development Bank on its ‘health bond’ under its NZ$5 billion domestic medium term note programme. The proceeds for this five year, NZ$1.2 billion Kauri issuance will be used to finance a pool of projects in the health sector.

Spark sustainability-linked loan
Advised Westpac New Zealand Limited (WNZL), MUFG and Commonwealth Bank of Australia (CBA) on the refinancing of two existing facilities (WNZL/MUFG) and the establishment of an additional facility (CBA) for Spark, each of which were sustainability-linked loans totalling NZ$425 million.

ANZ Bank sustainability-linked loan
Advised ANZ Bank in connection with The Warehouse Group’s conversion of its existing loan facilities into sustainability-linked loans.

Spark sustainability-link bonds
Advised The New Zealand Guardian Trust Company in relation to Spark’s issuance of sustainability-linked bonds – the first issuance of such a product in the New Zealand market.

Contact Energy green capital bonds
Advised The New Zealand Guardian Trust Company in relation to Contact Energy’s issuance of green capital bonds – the first issuance of a capital bond with a green label in the New Zealand market.

Sustainable finance

Work highlights

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