NZX Announcement
11 May 2021
LGFA fixed rate bond offer: Bookbuild update 1
On 11 May 2021, New Zealand Local Government Funding Agency Limited (LGFA) announced that it is offering NZ$300 million unsecured, unsubordinated, fixed rate bonds with a maturity date of 15 May 2031 (Bonds) to institutional and New Zealand retail investors, with the ability to accept unlimited oversubscriptions at LGFA's discretion.
Full details of the Bond offer are contained in the Series Notice which was attached to the launch announcement on 11 May 2021.
The bookbuild process is underway. An update is set out below.
Bookbuild Orders
As at 4.00 pm NZT in excess of NZ$630 million within the indicative Margin range below (including NZ$100 million of Bonds reserved for subscription by LGFA and NZ$105 million trading interest from the Joint Lead Managers).
Indicative Margin
The indicative Margin range has not changed from the Series Notice at 0.35 – 0.38 per cent per annum.
Indicative Issuance Yield
Based on the indicative Margin, 2.277 – 2.307 per cent per annum.
Closing Date
Bids due by 2pm NZT, 12 May 2021.
ISIN
NZLGFDT017C3
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