16 April 2021
LGFA Quarterly Investor Update
Please find attached the LGFA Quarterly Update to Investors.
With three months remaining in the 2020-21 financial year, we have left the bond issuance programme for the year to 30 June 2021 unchanged at $3.0 billion. Given that LGFA has issued $2.3 billion of LGFA bonds in the nine month period to 31 March 2021, it expects to issue a further $700 million in the June quarter but may take the opportunity to prefund part of the 2021-22 requirement if market conditions are suitable.
The forecast bond issuance programme for the 2022, 2023 and 2024 financial years were announced to the market as part of the Draft SOI on 27 February 2021 and will be updated in late July following the completion of the LGFA SOI and the councils Long Term Plans.
Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief Executive.
Telephone +64 4 974 6744