12 May 2021
New Zealand Local Government Funding Agency Limited announced today that it will issue NZ$750 million of unsecured, unsubordinated, fixed rate bonds maturing 15 May 2031 (Bonds).
The Coupon/Interest Rate for the Bonds has been set at 2.25% per annum.
The Issuance Yield for the Bonds has been set at 2.319% per annum, based on a Margin of 0.36% per annum as previously announced.
The Issue/Settlement Price has been determined (using the formula in the Series Notice) as $0.99399768 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 17 May 2021. The Bonds are expected to be quoted on the NZX Debt Market on 18 May 2021 under the ticker code LGF140.
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