LGFA CONSIDERS BOND OFFER
Further to New Zealand Local Government Funding Agency Limited's (LGFA) announcement on 4 February 2019, LGFA is considering making an offer of unsecured, unsubordinated fixed rate bonds maturing on 15 April 2024 (Bonds) to institutional and New Zealand retail investors.
It is expected that full details of the offer will be released the week beginning 11 March 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 13 March 2019.
LGFA has appointed Bank of New Zealand as the Arranger and a Joint Lead Manager and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) as a Joint Lead Manager 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.
LGFA will hold a global investor conference call at 4.00pm NZT on 6 March 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
Wednesday 6 March 2019
New Zealand 0800 452 257 4.00pm
Australia 1800 093 431 2.00pm
Singapore 800 120 6856 11.00am
Hong Kong +852 3005 2399 11.00am
Japan 0120 200 683 12.00pm
International +61 2 8047 9393 Pin Code 61007357#
Joint Lead Managers
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