NZX Announcement
13 October 2021
New Zealand Local Government Funding Agency Limited announced today that it will issue:
a) NZ$800 million of unsecured, unsubordinated, fixed rate bonds maturing 15 May 2028 (2028 Bonds); and
b) NZ$500 million of unsecured, unsubordinated, fixed rate bonds maturing 15 May 2035 (2035 Bonds, together with the 2028 Bonds, the Bonds).
2028 Bonds
The Coupon/Interest Rate for the 2028 Bonds has been set at 2.25% per annum.
The Issuance Yield for the 2028 Bonds has been set at 2.359% per annum, based on a Margin of 0.25% per annum as previously announced.
The Issue/Settlement Price for the 2028 Bonds has been determined (using the formula in the Series Notice) as $1.00292583 per bond.
2035 Bonds
The Coupon/Interest Rate for the 2035 Bonds has been set at 3.00% per annum.
The Issuance Yield for the 2035 Bonds has been set at 2.929% per annum, based on a Margin of 0.46% per annum as previously announced.
The Issue/Settlement Price for the 2035 Bonds has been determined (using the formula in the Series Notice) as $1.02060949 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 18 October 2021. The 2028 Bonds are expected to be quoted on the NZX Debt Market on 19 October 2021 under the ticker code LGF150. The 2035 Bonds are expected to be quoted on the NZX Debt Market on 19 October 2021 under the ticker code LGF160.
Arranger and Joint Lead Manager
BNZ
Phone: 0800 284 017
Joint Lead Managers
ANZ
Phone: 0800 269 476
CBA
Phone: 0800 272 266
Westpac Banking Corporation
Phone: 0800 772 142
ENDS
For all investor relations and media queries, please contact:
Mark Butcher, Chief Executive
mark.butcher@lgfa.co.nz / 04 974 6744