NZX Announcement
05 April 2023
LGFA considers sustainable financing bond offer
New Zealand Local Government Funding Agency Limited (LGFA) is considering, subject to market conditions, making an offer of unsecured, unsubordinated fixed rate sustainable financing bonds maturing on 15 May 2030 (Sustainable Financing Bonds), to institutional and New Zealand retail investors.
If LGFA decides to proceed with the offer, LGFA will cancel the proposed tender that is scheduled to occur on 12 April 2023. In that case, it is expected that full details of any offer of the Sustainable Financing Bonds will be released next week, when such offer would be expected to open.
LGFA will hold a global investor conference call at 4:00 pm and 8:00 pm NZT on Wednesday, 5 April 2023. Details are outlined below. Investors can access a recording of this call by contacting a Joint Lead Manager as detailed below.
Attached to this announcement is a copy of an investor presentation in relation to the potential offer and a copy of the sustainable financing bond pre-issuance review letter dated 31 March 2023 issued by Sustainalytics.
LGFA has appointed Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) as the Arranger and a Joint Lead Manager and ANZ Bank New Zealand Limited, Bank of New Zealand and Commonwealth Bank of Australia (ABN 48 123 123 124) (acting through its New Zealand branch) as Joint Lead Managers in relation to any offer of the Sustainable Financing Bonds.
Investors can register their interest in the offer by contacting a Joint Lead Manager as detailed below, or their financial advice provider. Indications of interest will not constitute an obligation or commitment of any kind.
No money is currently being sought and applications for the Sustainable Financing Bonds cannot currently be made. If LGFA offers Sustainable Financing Bonds, the offer will be made in reliance upon the Financial Markets Conduct (New Zealand Local Government Funding Agency Limited Sustainable Financing Bond Offer) Exemption Notice 2023. The offered Sustainable Financing Bonds are expected to be quoted on the NZX Debt Market.
Please register for the conference call using the links below.
Wednesday, 5 April 2023
4:00pm NZT – 2:00pm AEST – 12:00pm SGT/HKT – 1:00pm JST
To register, please click here
https://s1.c-conf.com/diamondpass/10029884-amghd32.html
Wednesday, 5 April 2023
8:00pm NZT – 6:00pm AEST – 4:00pm SGT/HKT – 5:00pm JST – 9:00am BST – 10:00am CEST
To register, please click here
https://s1.c-conf.com/diamondpass/10029885-4az29n.html
Arranger, Sustainability Coordinator and Joint Lead Manager
Westpac Banking Corporation
Phone: 0800 772 142
Joint Lead Managers
ANZ
Phone: 0800 269 476
BNZ
Phone: 0800 275 269
CBA
Phone: 0800 272 266
ENDS
For all investor relations and media queries, please contact:
Mark Butcher, Chief Executive
mark.butcher@lgfa.co.nz / 04 974 6744