LGFA confirms Issue Price, Interest Rate and Issuance Yield

NZX Announcement
09 April 2020

New Zealand Local Government Funding Agency Limited announced today that it will issue NZ$ 1.1 billion of unsecured, unsubordinated, fixed rate bonds maturing 15 April 2026 (Bonds).

The Coupon/Interest Rate for the Bonds has been set at 1.50% per annum.

The Issuance Yield for the Bonds has been set at 1.46% per annum, based on a Margin of 0.78% per annum as previously announced.

The Issue/Settlement Price has been determined (using the formula in the Series Notice) as 1.00228990 per Bond.

All of the Bonds have been allocated to participants (or their clients) in the bookbuild process and there is no public pool.

The Bonds are expected to be issued on 15 April 2020. The Bonds are expected to be quoted on the NZX Debt Market on 16 April 2020 under the ticker code LGF120.

Joint Lead Managers

ANZ
Phone: 0800 269 476

Bank of New Zealand
Phone: 0800 284 017

CBA
Phone: 0800 272 266

Westpac Banking Corporation
Phone: 0800 942 822

For all investor relations and media queries, please contact:

Mark Butcher, Chief Executive
mark.butcher@lgfa.co.nz/04 974 6744

9 Apr 2020