NZX Announcement
8 April 2024
Notice pursuant to clause 20(1)(a) of schedule 8 of the Financial Markets Conduct Regulations 2014
New Zealand Local Government Funding Agency Limited ("LGFA") gives notice under clause 20(1)(a) of schedule 8 of the Financial Markets Conduct Regulations 2014 ("Regulations") that it proposes to make an offer for the issue of fixed rate bonds due 15 April 2026 ("Bonds") in reliance upon the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act 2013 ("FMCA").
The main terms of the offer and the Bonds are set out in the attached Series Notice. The Bonds will form part of the same series (and will have identical rights, privileges, limitations and conditions) as LGFA's fixed rate bonds maturing on 15 April 2026 with an interest rate of 1.50% per annum, which are quoted on the NZX Debt Market under the ticker code LGF120 ("LGF120 Bonds").
In addition, the Bonds will have identical rights, privileges, limitations and conditions (except for the interest rate and/or maturity date) as LGFA's:
(i) fixed rate bonds maturing on 15 April 2027, which are quoted on the NZX Debt Market under the ticker code LGF060;
(ii) fixed rate bonds maturing on 15 April 2025, which are quoted on the NZX Debt Market under the ticker code LGF070;
(iii) fixed rate bonds maturing on 14 April 2033, which are quoted on the NZX Debt Market under the ticker code LGF080;
(iv) fixed rate bonds maturing on 15 April 2024, which are quoted on the NZX Debt Market under the ticker code LGF100;
(v) fixed rate bonds maturing on 20 April 2029, which are quoted on the NZX Debt Market under the ticker code LGF110;
(vi) fixed rate bonds maturing on 15 April 2037, which are quoted on the NZX Debt Market under the ticker code LGF130;
(vii) fixed rate bonds maturing on 15 May 2031, which are quoted on the NZX Debt Market under the ticker code LGF140;
(viii) fixed rate bonds maturing on 15 May 2028, which are quoted on the NZX Debt Market under the ticker code LGF150; and
(ix) fixed rate bonds maturing on 15 May 2035, which are quoted on the NZX Debt Market under the ticker code LGF160,
(together with the LGF120 Bonds, "Quoted Bonds") and therefore are of the same class as the Quoted Bonds for the purposes of the FMCA and the Regulations. The Quoted Bonds (other than the Quoted Bonds with ticker code LGF100 (referred to at paragraph (iv) above)) have been continuously quoted on the NZX Debt Market over the preceding 3 months. The Quoted Bonds with ticker code LGF100 (referred to at paragraph (iv) above) have been suspended from trading since the close of business on 3 April 2024 and will be redeemed at maturity on 15 April 2024.
As at the date of this notice, LGFA is in compliance with:
a) the continuous disclosure obligations that apply to it in relation to the Quoted Bonds; and
b) its financial reporting obligations (as defined in the Regulations).
As at the date of this notice, there is no excluded information required to be disclosed for the purposes of the Regulations.
As at the date of this notice, there is no information that would be required to be disclosed under a continuous disclosure obligation or which would be excluded information required to be disclosed for the purposes of the Regulations if the Quoted Bonds had had the same redemption date or interest rate as the Bonds being offered (as applicable).
ENDS
For further information, please contact:
Mark Butcher Chief Executive
04 974 6530