Motor Trade Finances (MTF) securitisation structure
Advised MTF on its securitisation structure and on the first rated note issue from a securitisation trust in the New Zealand market since the global financial crisis. The new structure was created to ensure ongoing funding was available after previous funding sources were undermined by investors deserting the asset-backed commercial paper market following the global financial crisis.
New Zealand securitisation structure of Pepper Home Loans
Acted for the trustee, Trustees Executors, on the New Zealand aspects of Pepper Home Loans acquisition of GE Capital's A$5 billion Australian and New Zealand residential home loan book. This was a very complex transaction completed to a very ambitious timetable. Funding for the acquisition was raised by establishing multiple securitisation trusts in Australia and New Zealand.
Harmoney Limited P2P wholesale unit trust
Acted for New Zealand Guardian Trust who were establishing a master unit trust structure and a wholesale unit trust to provide funding to New Zealand's first peer-to-peer lending platform. As the funds' sole authorised investment is this country's first P2P lending platform license issued by the FMA the documentation involved negotiation of many complex issues, including allocation of risk associated with consumer credit lending and the new Financial Markets Conduct Act 2013.