21 August 2019
New Zealand Local Government Funding Agency Limited announced today that it will issue NZ$500,000,000 of unsecured, unsubordinated, fixed rate bonds maturing 20 April 2029 (Bonds).
The Coupon/Interest Rate for the Bonds has been set at 1.50% per annum.
The Issuance Yield for the Bonds has been set at 1.687% per annum, based on a Margin of 0.48% per annum as previously announced.
The Issue/Settlement Price (which includes 128 days of accrued interest) has been determined (using the formula in the Series Notice) as 98.864997347 per Bond.
All of the Bonds have been allocated to participants (or their clients) in the bookbuild process and there is no public pool.
The Bonds are expected to be issued on 26 August 2019. The Bonds are expected to be quoted on the NZX Debt Market on 27 August 2019 under the ticker code LGF110.
Joint Lead Managers
Phone: 0800 269 476
Bank of New Zealand
Phone: 0800 284 017
Westpac Banking Corporation
Phone: 0800 942 822
For all investor relations and media queries, please contact:
Mark Butcher, Chief Executive
email@example.com / 04 974 6744