Sustainable finance

Bell Gully is at the forefront of the development of the sustainable finance market in New Zealand.

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.