NZX Announcement
05 April 2022
New Zealand Local Government Funding Agency Limited (LGFA) announced today that it will issue the following existing series of unsecured, unsubordinated, fixed rate bonds with the maturity dates listed below (together, the 'Bonds').
2024 Bonds
Maturity Date: 15 April 2024
Issue size: NZ$230 million
Coupon/Interest Rate: 2.25% per annum
Issuance Yield: 3.499% per annum, based on a Margin of 0.08% per annum as previously announced
Issue/Settlement Price: NZ$0.97598246 per bond as determined using the formula in the Series Notice
2026 Bonds
Maturity Date: 15 April 2026
Issue size: NZ$425 million
Coupon/Interest rate: 1.50% per annum
Issuance Yield: 3.794% per annum, based on a Margin of 0.29% per annum as previously announced
Issue/Settlement Price: NZ$0.91550795 per bond as determined using the formula in the Series Notice
2028 Bonds
Maturity Date: 15 May 2028
Issue size: NZ$450 million
Coupon/Interest rate: 2.25% per annum
Issuance Yield: 3.909% per annum, based on a Margin of 0.42% per annum as previously announced
Issue/Settlement Price: NZ$0.92022613 per bond as determined using the formula in the Series Notice
Other information
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 14 April 2022. The 2024 Bonds are a further tranche of 2024 bonds that are already quoted on the NZX Debt Market under the ticker code LGF100. The 2026 Bonds are a further tranche of 2026 bonds that are already quoted on the NZX Debt Market under the ticker code LGF120. The 2028 Bonds are a further tranche of 2028 bonds that are already quoted on the NZX Debt Market under the ticker code LGF150.
Arranger and Joint Lead Manager
BNZ
Phone: 0800 284 017
Joint Lead Manager
ANZ
Phone: 0800 269 476
ENDS
For all investor relations and media queries, please contact:
Mark Butcher, Chief Executive
mark.butcher@lgfa.co.nz / 04 974 6744