Steve Gallaugher

Partner

Steve is a leading acquisition, syndicated, corporate, project and property finance lawyer with over 20 years’ experience. He regularly advises on the largest and most complex financings in New Zealand.

Steve is an expert in uni-tranche, first/second lien loans, syndicated, and bilateral finance transactions. His experience spans a wide range of industries, including childcare, healthcare, education, agribusiness, technology, telecommunications and media (TMT), infrastructure, transport, and energy.

He advises senior bank syndicates, credit funds, underwriters, domestic and offshore purchasers, investment banks, corporate borrowers and private equity sponsors on New Zealand and cross-border acquisitions, leveraged buy-outs, restructuring and general corporate finance.

Well-known in the New Zealand’s project and property finance sectors, Steve has helped structure, execute, finance, and reorganise numerous New Zealand real estate transactions spanning residential, commercial, industrial, social housing and development projects. He has acted on all of the Public Private Partnerships (PPPs) brought to market in New Zealand and continues to act on the majority of them in various capacities.

Recognised as a leading banking and finance lawyer in renowned legal directories, Steve is regarded by clients as “the go-to for project and acquisition finance-related transactions and brings with him a wealth of technical and commercial knowledge in this space” – Chambers Asia-Pacific 2022 and "one of, if not the, best banking and finance lawyer in New Zealand" - Chambers Asia-Pacific 2023. Steve is widely praised by clients for being responsive, strategic and solutions focused.

Career highlights

Advising the mandated lead arranger banks in connection with the $1.7 billion syndicated financing of One NZ, which resulted in New Zealand’s largest syndicate.

Acting for the Senior and Mezzanine syndicates on the refinance of the Hellers Group (owned by Adamantem Capital). This financing included a Unitranche Senior Facility (comprised of multiple international credit funds), with Super Senior lending and a unique portability feature to provide potential purchasers an option for stapled financing.

Advising Amicaa and The Carlyle Group on their senior financing to fund an MBO acquisition of the NPD Group.

Acting for Next Capital and JUCY Group on the consolidated refinance of JUCY’s Australasian facilities. Continue to act for JUCY Group on all of its banking matters.

Advising Next Capital on all financing aspects in connection with its acquisition of the NZ Bus Group from Infratil.

Advising the syndicate of banks on all aspects of refinancing and funding an expansion of the New Zealand Schools 2 Public Private Partnership – achieving a negotiated and documented position acceptable to the Ministry of Education, the sponsors, the financiers, and all other key project parties.

Advising Hirepool Group on all financing aspects including a refinance of senior and mezzanine facilities to recapitalise its balance sheet.

Advising the mandated lead arranger banks in connection with the syndicated financing of Infratil’s acquisition of the Pacific Radiology Group. Subsequently acted for the lending group on the acquisitions of Auckland Radiology and Bay Radiology.

Achievements and recognition
  • Leading Individual, Banking and Finance, The Legal 500 Asia-Pacific
  • Tier 1 team, Banking and Finance, The Legal 500 Asia-Pacific
  • Recognised, Banking and Finance, Chambers Asia-Pacific
  • Notable Practitioner, Banking and Project Development, IFLR1000
  • Recognised, Banking and Finance Law, Best Lawyers
  • Recognised, Project Finance and Development Practice, Best Lawyers
  • Recognised, Banking and Finance, Expert Guides