NZX Announcement
6 April 2020
On 1 April 2020, New Zealand Local Government Funding Agency Limited (LGFA) announced that it was considering, subject to market conditions, making an offer of unsecured, unsubordinated fixed rate bonds maturing on 15 April 2026 (Bonds) to institutional and New Zealand retail investors. LGFA is still actively considering making an offer of the Bonds and expects that full details of the offer will be released in the near future, subject to market conditions.
Accordingly, LGFA does not intend to hold the proposed tender of bonds that was scheduled for 8 April 2020.
LGFA has appointed Bank of New Zealand as the Arranger and a Joint Lead Manager and ANZ Bank New Zealand Limited, Commonwealth Bank of Australia (ABN 48 123 123 124) and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) as Joint Lead Managers 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.
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.
Joint Lead Managers
ANZ
Phone: 0800 269 476
Bank of New Zealand
Phone: 0800 284 017
CBA
Phone: 0800 272 266
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