NZX Announcement
05 October 2021

New Zealand Local Government Funding Agency Limited (LGFA) has a proposed tender scheduled to occur on 13 October 2021.

LGFA is considering replacing the tender with an offer of one or more bonds. In relation to this, LGFA is considering, subject to market conditions, making an offer of unsecured, unsubordinated fixed rate bonds maturing on 15 May 2028 (2028 Bonds) and/or an offer of unsecured, unsubordinated fixed rate bonds maturing on 15 May 2035 (2035 Bonds, together with the 2028 Bonds, the Bonds), to institutional and New Zealand retail investors.

If LGFA decides to proceed with any offer, LGFA would cancel the proposed tender that is scheduled to occur on 13 October 2021. In that case, it is expected that full details of any offer of the Bonds will be released next week, when such offer would be expected to open.

LGFA has appointed Bank of New Zealand as the Arranger and a Joint Lead Manager and ANZ Bank New Zealand Limited, Commonwealth Bank of Australia (ABN 48 123 123 124) (acting through its New Zealand branch) and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) as Joint Lead Managers in relation to any offer of the Bonds.

Investors can register their interest in the offer(s) by contacting a Joint Lead Manager as detailed below, or their financial advisor. Indications of interest will not constitute an obligation or commitment of any kind.

No money is currently being sought and applications for the Bonds cannot currently be made. If LGFA offers any Bonds, the offer(s) will be made in accordance with the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. The offered Bonds are expected to be quoted on the NZX Debt Market.

Arranger and Joint Lead Manager

Phone: 0800 284 017

Joint Lead Managers

Phone: 0800 269 476

Phone: 0800 272 266

Westpac Banking Corporation
Phone: 0800 772 142

For all investor relations and media queries, please contact:

Mark Butcher, Chief Executive / 04 974 6744