18 January 2021
LGFA Quarterly Investor Update and Revision to Funding Programme
Please find attached the LGFA Quarterly Update to Investors.
Following revised borrowing estimates from councils, LGFA has increased the estimated size of the 2020-21 bond issuance programme by $200 million to $3.0 billion. There are no changes to the estimated 2021-22 and 2022-23 bond issuance programme.
Given that LGFA issued $1.9 billion of LGFA bonds in the six month period to 31 December 2020 , it expects to issue a revised $1.1 billion in the six month period to June 2021.
LGFA will provide the next update in mid-April.
Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief Executive.
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