![]() More information on the sale is available here and Russell McVeagh's role in the sale here. The Russell McVeagh team is delighted to have assisted UDC with the establishment of its new debt capital structure and to see the transaction come to a successful close. ![]() The quality of advice UDC received on this transaction from Russell McVeagh is well demonstrated by the high level of participation from the six lenders in the syndication group that delivered a great outcome with NZ$2 billion of funding secured across the two securitisation warehouse structures.” Russell McVeagh more than rose to the challenge of delivering this transaction when you take into consideration the pressure of an M&A timeline and structuring the programme to accommodate the varied range of products UDC provides finance for, in circumstances made even more difficult due to the significant disruption created by COVID-19. “We have been delighted to have the Russell McVeagh team involved in successfully bringing this exciting and significant transaction to the New Zealand securitisation market. ![]() UDC's treasurer recognised the value the Russell McVeagh team brought to the securitisation, stating: Russell McVeagh advised on the structuring, syndication and implementation of the transaction. ![]() The securitisation was a stapled financing to ANZ's sale of UDC to Shinsei Bank, funding into the completion of the share sale. Support was also provided by senior associates Lucy Becke and Ling Yan Pang and solicitors James Horner and Millie Bidwill. The practice is called staple financing because the financing is thought of as being stapled to the back of the bid documents. Bankable auction package helps secure project finance at more favorable conditions (e.g. (the 'stapled-lender'), underwriting bonds or syndicating leveraged loans2 to finance the purchase. Partner Deemple Budhia, working closely with senior associate Jesse Fairley, led the transaction. Stapled financing: principal, interest, maturity pre-arranged. Our online platform, Wiley Online Library () is one of the world’s most extensive multidisciplinary collections of online resources, covering life, health, social and physical sciences, and humanities.Russell McVeagh has advised UDC on the establishment of its landmark $2 billion AAA rated auto and equipment finance-backed syndicated securitisation programme, New Zealand's largest ever non-bank securitisation. With a growing open access offering, Wiley is committed to the widest possible dissemination of and access to the content we publish and supports all sustainable models of access. Wiley has partnerships with many of the world’s leading societies and publishes over 1,500 peer-reviewed journals and 1,500+ new books annually in print and online, as well as databases, major reference works and laboratory protocols in STMS subjects. Wiley has published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising professional books, subscription products, certification and training services and online applications and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners. Wiley is a global provider of content and content-enabled workflow solutions in areas of scientific, technical, medical, and scholarly research professional development and education.
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