Steve Gallaugher

Partner - Banking and Finance

A specialist banking and finance lawyer, Steve acts for major banks and corporates providing strategic advice on secured, unsecured, and subordinated debt facilities, acquisitions, corporate reorganisations/restructures, management buy-outs, and securitisations.  He is also well-known in New Zealand’s project and property finance sectors, and is recognised for acting on all the major government PPPs in New Zealand to date.

Professional background

Recent work

CITIC Capital’s acquisition of Trilogy International Limited

Acted for CITIC Capital in arranging its syndicated debt financing for the purchase of Trilogy International Limited by way of scheme of arrangement.

BT Mining’s acquisition of mines from Solid Energy

Acted for BT Mining Limited (a joint venture between Bathurst Resources and Talleys) in connection with its financing of the purchase of the Stockton, Rotowaro and Maramarua mines from the administrators of Solid Energy New Zealand.

Financing of PwC

Acted for ANZ and BNZ on their financing of PwC which was provided by the banks on a bilateral basis, under an umbrella common terms deed.

Hirepool refinancing

Acted for Hirepool in relation to its mezzanine and senior refinance, which coincided with an equity restructure and negotiating all of the finance documents in connection with the refinance.

Acquisition of Ascot Radiology from Abano Healthcare

Acted for the group of radiologists who acquired Ascot Radiology Limited from Abano Healthcare Group Limited. The transaction involved arranging various facilities from BNZ.

Education Perfect Limited acquisition financing

Acted for ASB in relation to the financing of Five V Capital Pty Ltd and Mulpha International Bhd’s acquisition of Education Perfect Limited.

Tauranga Social Housing Transfer

Acted for Westpac on the financing of Accessible Properties’ special project vehicle in connection with the transfer of Housing New Zealand’s 1140 Tauranga social housing properties, and the ongoing management of Ministry of Social Development’s tenancies.

Vector Gas and Maui Gas Pipeline acquisition financing

Acted as bank counsel to the syndicate of banks in their financing of Australian utilities investor Colonial First State Funds’ separate successful bids for the NZ$1.288 billion acquisition of all the shares in Vector Gas Limited and the Maui gas pipeline assets.

Trusted legal advisor to Tegel Foods

Acted for Tegel Foods on various financing transactions including on its dual-listing on the NZX and ASX and its syndicated facilities provided by Westpac, ANZ and BNZ.

Project finance and hedging facilities for school project (PPP)

Acted for the lending syndicate and hedge counterparties  providing project finance and hedging facilities to fund the design, construction and maintenance of four schools throughout New Zealand.  Steve has advised on all of the PPPs in New Zealand to date (including school, prison and roading assets).

Admitted

  • Admitted to the bar in 2008, England and Wales and 2004, New Zealand

Qualifications

  • LLB University of Auckland
  • BCom (Finance) University of Auckland

Specialisations

  • Corporate Finance
  • Leveraged Finance and Private Equity
  • Project Finance and Public Private Partnerships
  • Syndicated Lending
  • Structured Finance
  • Property Finance

Awards

  • Ranked as a Notable Practitioner in Project Development, IFLR1000
  • Ranked as a leading lawyer for Banking and Finance by Chambers and Partners Asia Pacific
  • Recognised as a “Rising star” by Expert Guides
  • Commended in The Legal 500 Asia Pacific