NZX Announcement
24 April 2020
LGFA BOND ISSUANCE PROGRAMME UPDATE AND REVISED LGFA BOND TENDER SCHEDULE 2020
Following discussions with our participating councils, at this stage New Zealand Local Government Funding Agency Limited ("LGFA”) is expecting the issuance volume of LGFA bonds for the remaining two months of the financial year (until 30 June 2020) to be $400 million, subject to market conditions. As a result of the revised target, LGFA (NZX: LGF) advises it will hold an extra bond tender on 6th May 2020.
For the 2020 - 21 financial year, LGFA is forecasting a gross issuance volume of $2.6 billion. The issuance volume is subject to change and market conditions and will be determined by LGFA at the relevant time as it will depend upon the amount and timing of borrowing by councils and (if applicable) council-controlled organisations and the size of the LGFA Liquid Asset Portfolio.
LGFA will provide a further funding programme update when it releases the Final Statement of Intent by the 30 June 2020 and intends to provide updates on a quarterly basis thereafter.
| Tender No | Announcement Date | Tender Date | Settlement Date |
|---|---|---|---|
| 71 | 04 May 2020 | 06 May 2020 | 11 May 2020 |
| 72 | 29 May 2020 | 03 Jun 2020 | 08 Jun 2020 |
| 73 | 06 Jul 2020 | 08 Jul 2020 | 13 Jul 2020 |
| 74 | 11 Aug 2020 | 13 Aug 2020 | 17 Aug 2020 |
| 75 | 05 Oct 2020 | 07 Oct 2020 | 12 Oct 2020 |
| 76 | 10 Nov 2020 | 12 Nov 2020 | 16 Nov 2020 |
| 77 | 14 Dec 2020 | 16 Dec 2020 | 21 Dec 2020 |
This schedule is subject to change.
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