| NZX Announcement 04 April 2022 On 4 April 2022, New Zealand Local Government Funding Agency Limited (LGFA) announced that it is offering to institutional and New Zealand retail investors the following existing series of unsecured, unsubordinated, fixed rate bonds with the maturity dates and NZX ticker codes listed below (together, the 'Bonds'). Each series of Bonds is already quoted on the NZX Debt Market. Full details of the Bond offers are contained in the Series Notices for the 2024 Bonds, 2026 Bonds and 2028 Bonds which were attached to the launch announcement on 4 April 2022. The bookbuild processes are underway. An update is set out below. 2024 Bonds Maturity Date: 15 April 2024 NZX ticker code: LGF100 Bookbuild orders: As at 8.30pm NZT in excess of NZ$330 million at the revised indicative Margin below (including NZ$125 million trading interest from the Joint Lead Managers). Based on orders to date, LGFA expects to issue NZ$230 million of 2024 Bonds. LGFA has determined to cap the issue size at NZ$230 million. Indicative Margin: The indicative Margin range set out in the Series Notice was 0.08 – 0.11 per cent per annum. As announced on 4 April 2022, based on investor interest, the indicative Margin was revised to 0.08 per cent per annum. Indicative Issuance Yield: Based on the revised indicative Margin, and the swap rate calculated on the NZ market closing rates on 4 April 2022, 3.515 per cent per annum. Closing Date: Bids due by 2pm NZT, 5 April 2022. ISIN: NZLGFDT011C6 2026 Bonds Maturity Date: 15 April 2026 NZX ticker code: LGF120 Bookbuild orders: As at 8.30pm NZT in excess of NZ$250 million within the indicative Margin range below (including NZ$25 million trading interest from the Joint Lead Managers). Based on orders to date, LGFA expects to issue at least NZ$100 million of 2026 Bonds. Indicative Margin: The indicative Margin range has not changed from the Series Notice at 0.27 – 0.30 per cent per annum. Indicative Issuance Yield: Based on the indicative Margin, and the swap rate calculated on the NZ market closing rates on 4 April 2022, 3.801 – 3.831 per cent per annum. Closing Date: Bids due by 2pm NZT, 5 April 2022. ISIN: NZLGFDT014C0 2028 Bonds Maturity Date: 15 May 2028 NZX ticker code: LGF150 Bookbuild orders: As at 8.30pm NZT in excess of NZ$380 million within the revised indicative Margin range below (including NZ$25 million trading interest from the Joint Lead Managers). Based on orders to date, LGFA expects to issue at least NZ$350 million of 2028 Bonds. Indicative Margin: The indicative Margin range set out in the Series Notice was 0.40 – 0.43 per cent per annum. As announced on 4 April 2022, based on investor interest, the indicative Margin range was revised to 0.41 – 0.42 per cent per annum. Indicative Issuance Yield: Based on the revised indicative Margin, and the swap rate calculated on the NZ market closing rates on 4 April 2022, 3.929 – 3.939 per cent per annum. Closing Date: Bids due by 2pm NZT, 5 April 2022. ISIN: NZLGFDT018C1 Arranger and Joint Lead Manager BNZ Phone: 0800 284 017 Joint Lead Manager ANZ Phone: 0800 269 476 ENDS For all investor relations and media queries, please contact: Mark Butcher, Chief Executive mark.butcher@lgfa.co.nz / 04 974 6744 |