Media Release: LGFA contemplating issuing a new April 2022 bond

LGFA contemplating issuing a new April 2022 bond in upcoming 4 April 2018 LGFA bond tender #54

New Zealand Local Government Funding Agency (LGFA) is contemplating the issuance of a new 14 April 2022 bond (2022 Bond) in the next LGFA bond tender scheduled for Wednesday 4th April 2018. More information will be given on Thursday 29th March 2018 via the standard announcement of tender details.

A new 2022 Bond will allow LGFA to provide funding to New Zealand councils to better match their borrowing requirements.  The 2022 Bond will constitute direct, unsecured debt obligations of LGFA. 

The issuance of a new maturity that for the first time does not match any similar New Zealand Government Bond (NZGB) maturity follows careful consideration by LGFA of its issuance strategy and current market conditions. 

LGFA carefully considers a range of factors before the creation of a new bond series with a new maturity and going forward intends to continue to match NZGB maturities where possible.

If LGFA decides to offer the 2022 Bond, further information in relation to the 2022 Bond will be set out in the series notice, which is expected to be released on Tuesday 3rd April 2018.  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 2022 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

 

 

26 Mar 2018