LGFA Considers Bond Offer

New Zealand Local Government Funding Agency Limited (LGFA) is considering making an offer of unsecured, unsubordinated fixed rate bonds maturing on 20 April 2029 (Bonds) to institutional and New Zealand retail investors.

It is expected that full details of the offer will be released the week beginning 19 August 2019, when the offer is expected to open.

If LGFA decides to proceed with the offer, LGFA intends to cancel the proposed tender that is scheduled to occur on 21 August 2019.

LGFA has appointed Bank of New Zealand as the Arranger and a Joint Lead Manager and ANZ Bank New Zealand Limited and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) as Joint Lead Managers in relation to the Bond offer.

Investors can register their interest in the offer by contacting a Joint Lead Manager as detailed below, or their financial advisor. Indications of interest will not constitute an obligation or commitment of any kind.

If LGFA offers the Bonds, LGFA will hold a global investor conference call at 2.00pm NZT on 20 August 2019. Details are outlined below.

No money is currently being sought and applications for the Bonds cannot currently be made.  If LGFA offers the Bonds, the offer will be made in accordance with the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. The Bonds are expected to be quoted on the NZX Debt Market.

LGFA Investor Conference Call

Joint Lead Managers 

ANZ
Phone: 0800 269 476 

Bank of New Zealand
Phone: 0800 284 017   

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