NZX Announcement
30 June 2021
LGFA BOND ISSUANCE PROGRAMME UPDATE AND REVISED LGFA BOND TENDER SCHEDULE FOR 2021-22 FINANCIAL YEAR
Following discussions with our participating councils and completion of the three-year forecasts for the 2021-22 Statement of Intent (“SOI”), the New Zealand Local Government Funding Agency Limited ("LGFA”) is expecting the issuance volume of LGFA bonds for next three years to be:
- $2.90 billion for the financial year ending 30 June 2022
- $2.875 billion for the financial year ending 30 June 2023
- $2.850 billion for the financial year ending 30 June 2024
The issuance volume is however subject to change and will be determined by LGFA at the relevant time as it will depend upon the amount and timing of borrowing by councils and council-controlled organisations and the size of the LGFA Liquid Asset Portfolio.
Upcoming tender dates for LGFA bonds
| Tender # | Announcement Date | Tender Date | Settlement Date |
|---|---|---|---|
| 82 | 5 July 2021 | 7 July 2021 | 12 July 2021 |
| 83 | 10 August 2021 | 12 August 2021 | 17 August 2021 |
| 84 | 6 September 2021 | 8 September 2021 | 13 September 2021 |
| 85 | 5 October 2021 | 7 October 2021 | 11 October 2021 |
| 86 | 8 November 2021 | 10 November 2021 | 15 November 2021 |
| 87 | 13 December 2021 | 15 December 2021 | 20 December 2021 |
| 88 | 31 January 2022 | 2 February 2022 | 8 February 2022 |
| 89 | 7 March 2022 | 9 March 2022 | 14 March 2022 |
| 90 | 7 April 2022 | 11 April 2022 | 14 April 2022 |
| 91 | 9 May 2022 | 11 May 2022 | 16 May 2022 |
| 92 | 3 June 2022 | 8 June 2022 | 13 June 2022 |
Note that LGFA has scheduled an extra bond tender on 8 September 2021 and adjusted the August 2021 bond tender date when compared to the previous announcement on 18 January 2021.
LGFA may also consider replacing one or more tenders with a syndicated offering of bonds during
the 2021-22 financial year.
LGFA will provide a further funding programme update by 30 September 2021 and intends to provide updates on a quarterly basis thereafter.
ENDS
Released on behalf of Local Government Funding Agency Limited by Mark Butcher, Chief Executive.
Telephone +64 4 974 6744
Email mark.butcher@lgfa.co.nz
Website lgfa.co.nz