Deemple Budhia

Partner

Banking and Finance

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Profile

Deemple specialises in debt capital markets, securitisation (including covered bonds) and structured finance, financial markets regulation (including insurance) and derivatives.

Deemple is an expert in navigating clients through complex financial transactions, and is regarded by her clients and peers as a focused partner and confident communicator. She acted on the establishment of the New Zealand Local Government Funding Agency (LGFA), its listing on the NZX in 2015 and its listed debt programme and AUD programme. Deemple has also advised on the establishment of numerous securitisation and covered bond programmes and issuances under those programmes.

In addition to Deemple’s capital markets experience, Deemple has a highly regarded financial markets regulation practice. 

Experience

Deemple is a trusted advisor to major banks, listed companies and government clients including ANZ, ASB, Bank of New Zealand, Heartland Bank, Westpac, NZBA and LGFA. She regularly acts as issuer, arranger or manager counsel for capital markets transactions. 

Her transaction experience includes:

  • Acting for Argosy Property on the first green bond issuance by a New Zealand corporate.
  • Acting for ANZ, ASB, BNZ and Westpac on the joint submission on the Reserve Bank's proposed RMBS structure for registered banks.
  • Acting for ASB on the establishment of its 144A programme.
  • Acting for Heartland Bank on its wholesale AUD Tier 2 issue.
  • Acting for ASB and CBA on both their retail Tier 2 issues and Additional Tier 1 issues.
  • Acting on the establishment of LGFA and its on-going funding requirements (including listing its bonds on the NZDX in 2015 and establishing its QFP and stock lending platforms).
  • Acting for warehouse lenders and mezzanine lenders on numerous warehouse securitisations.
  • Acting for BNZ, Westpac and Merrill Lynch on the 2019 issuance out of Resimac's RMBS programme.
  • Acting for BNZ and Westpac (as arrangers) on the 2017 issuance out of Resimac's RMBS programme.
  • Acting for ANZ on the sale of UDC Finance.
  • Acting as either arranger or issuer counsel (including, Trustpower, SkyCity, ASB and various Kauri issuers) on both listed and unlisted debt capital markets issues.
  • Acting for Westpac (as arranger) on the 2014 issuance out of Resimac's RMBS programme.
  • Acting for ANZ, BNZ, ASB and Westpac on the transition of their derivatives businesses into the FMCA (including preparing all their respective PDSs).
  • Acting for ASB on the establishment of its UK listed covered bonds programme and issuances under the programme.
  • Acting for Westpac (as arranger) on the first note issuance out of Co-Operative Bank’s RMBS programme.
  • Advising on the application of legislation for capital instruments and derivatives under the FMCA, covered bonds and the banking handbook.
  • Advising various banks on consumer protection law, including the transition into the amended CCCFA regime in 2015.
  • Advising NZBA, banks, corporate trustees and other market participants in relation to the FMCA.

Credentials

LLB (Hons), BA, University of Auckland.

Professional

Prior to joining Russell McVeagh, Deemple spent several years in London working in the securitisation team at Allen & Overy and then as an originator in Citibank’s European commercial property and securitisation team. She was admitted to practise in New Zealand in 1998.

Deemple is a member of the New Zealand sub-committee for the Australian Securitisation Forum, and a member of the NZ Markets Disciplinary Tribunal (NZMDT) – an independent regulatory body that ensures the integrity in our markets is maintained through determining whether an issuer or market participant has breached NZX’s market rules. 

She is author of the New Zealand chapter in The International Capital Markets Review 8th Edition; the New Zealand Securitisation chapter for Chambers and Partners 2019 Global Practice Guides; and the New Zealand chapter within The Law Review's Virtual Currency Regulation Review.

Deemple is recommended by Asia-Pacific Legal 500 as a leading lawyer in banking and finance. Deemple is also ranked as a leading lawyer for banking and finance by Chambers and Partners, is listed by IFLR1000 for Capital Markets in New Zealand, and is listed as a Leading Lawyer for Capital Markets Law and Banking and Finance Law by Best Lawyers®2020.

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