Press Release:
LGFA contemplating issuing a new April 2033 bond in upcoming 5 April 2017 LGFA bond tender
New Zealand Local Government Funding Agency (LGFA) is contemplating the issuance of a new 14 April 2033 bond (2033 Bond) in the next LGFA bond tender scheduled for Wednesday 5th April 2017. More information will be given on Monday 3rd April 2017 via the standard announcement of tender details that is made two days prior to a tender.
A new 2033 Bond will allow LGFA to provide long dated funding to New Zealand councils to better match their long dated assets. The 2033 Bond will constitute direct, unsecured debt obligations of LGFA.
If LGFA decides to offer the 2033 Bond, further information in relation to the 2033 Bond will be set out in the series notice, which is expected to be released on Tuesday 4th April 2017. The series notice will be available on NZX (at https://www.nzx.com/companies/LGF/announcements) and on our website (http://lgfa.co.nz/for-investors/lgfa-bonds).
No money is currently being sought and no bids for the 2033 Bond will be accepted until the bids open on the tender date and tender participants have received a copy of the series notice.
For further information on LGFA visit the website www.lgfa.co.nz or contact:
Mark Butcher, Chief Executive
Telephone 04 974 6744
17 March 2017