NZX Announcement
12 October 2022
LGFA confirms Issue Price, Interest Rate and Issuance Yield
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').
2025 Bonds
Maturity Date: 15 April 2025
Issue size: NZ$600 million
Issuance Yield: 5.124% per annum, based on a Margin of 0.28% per annum as previously
announced
Issue/Settlement Price: NZ$0.9452150271 per bond as determined using the formula in the Series
Notice
2029 Bonds
Maturity Date: 20 April 2029
Issue size: NZ$200 million
Coupon/Interest rate: 1.50% per annum
Issuance Yield: 5.219% per annum, based on a Margin of 0.56% per annum as previously
announced
Issue/Settlement Price: NZ$0.7968755203 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 17 October 2022. The 2025 Bonds are a further tranche of 2025
bonds that are already quoted on the NZX Debt Market under the ticker code LGF070. The 2029 Bonds
are a further tranche of 2029 bonds that are already quoted on the NZX Debt Market under the ticker
code LGF110.
Arranger and Joint Lead Manager
BNZ
Phone: 0800 284 017
Joint Lead Managers
ANZ
Phone: 0800 269 476
CBA
Phone: 0800 272 266
Westpac Banking Corporation
Phone: 0800 772 142
ENDS
For all investor relations and media queries, please contact:
Mark Butcher, Chief Executive
mark.butcher@lgfa.co.nz / 04 974 6744