We would like to acknowledge our clients that have had key roles on several notable transactions in the past year which are highlighted as 2022 INFINZ Awards finalists. Russell McVeagh is pleased to have worked alongside KiwiRail, Kiwibank and Tilt Renewables on transactions that support these organisations achieve their strategic goals.
The INFINZ Awards highlight and recognise innovation and excellence within New Zealand's financial sector and are the foremost financial industry awards across New Zealand.
Russell McVeagh Board Chair Allison Arthur-Young said, "Congratulations to our clients and their in-house counsel on being shortlisted for this year's INFINZ Awards. We feel privileged to have assisted on these significant transactions and thank our clients for the opportunity to do so."
We are proud to have assisted on the following finalist transactions:
Debt Deal of the Year Finalist:
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KiwiRail - Interislander resilient connection project
Partners Mei Fern Johnson and John Powell assisted KiwiRail on the $350 million loan facility to finance the purchase of two new rail enabled Cook Strait ferries which has become the first shipping loan in the world to be certified under the Climate Bonds Initiative framework (more on this here).
NZ Debt Market Issue of the Year Finalist:
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Kiwibank's NZ$250m Perpetual Preference Share Offer
Led by Banking & Finance partner Guy Lethbridge, our firm advised Kiwibank on all legal aspects of its retail offer and issue of $250 million perpetual preference shares to New Zealand investors. The preference shares count as Additional Tier 1 capital for Kiwibank's regulatory purposes, and were the first Additional Tier 1 capital instruments issued under the Reserve Bank of New Zealand's new capital standards (read more on this here).
M&A Transaction of the Year Finalist:
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Mercury's NZ$797m acquisition of Tilt Renewables' NZ assets
Led by Corporate partner Joe Windmeyer, our firm assisted Tilt Renewables, a leading developer, owner, and manager of renewable generation assets in Australasia, with a sale process after its majority shareholder, Infratil, announced a strategic review of its shareholding in Tilt Renewables.
Following a competitive auction process with a number of interested parties, Tilt Renewables entered into a scheme implementation agreement to implement a sale of 100% of its shares by High Court approved scheme of arrangement which was finalised in August 2021 (more on this here).
The INFINZ Awards will be presented at a Gala Dinner, Thursday 26 May 2022, at Shed 10, Queens Wharf, Auckland. All the best to our clients and all of the finalists!