NZX Announcement
05 April 2022
New Zealand Local Government Funding Agency Limited (LGFA) today announced that following the successful bookbuild process for its offers of the following existing series of unsecured, unsubordinated, fixed rate bonds with the maturity dates listed below (together, the 'Bonds') and confirmed the issue size and Margin for each offer of the Bonds.
2024 Bonds
Maturity Date: 15 April 2024
Issue size: NZ$230 million
Bookbuild orders: As at offer close at 2pm NZT, bookbuild orders in excess of NZ$430 million at the Margin of 0.08% per annum were received
Margin: 0.08% per annum
Coupon/Interest Rate: 2.25% per annum
2026 Bonds
Maturity Date: 15 April 2026
Issue size: NZ$425 million
Bookbuild orders: As at offer close at 2pm NZT, bookbuild orders in excess of NZ$470 million at the Margin of 0.29% per annum were received
Margin: 0.29% per annum
Coupon/Interest Rate: 1.50% per annum
2028 Bonds
Maturity Date: 15 May 2028
Issue size: NZ$450 million
Bookbuild orders: As at offer close at 2pm NZT, bookbuild orders in excess of NZ$500 million at the Margin of 0.42% per annum were received
Margin: 0.42% per annum
Coupon/Interest Rate: 2.25% per annum
Other information
The Issuance Yield and Issue/Settlement Price for each of the 2024 Bonds, 2026 Bonds and 2028 Bonds will be announced shortly.
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 14 April 2022. The 2024 Bonds are a further tranche of 2024 bonds that are already quoted on the NZX Debt Market under the ticker code LGF100. The 2026 Bonds are a further tranche of 2026 bonds that are already quoted on the NZX Debt Market under the ticker code LGF120. The 2028 Bonds are a further tranche of 2028 bonds that are already quoted on the NZX Debt Market under the ticker code LGF150.
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