NZX Announcement 
21 August 2019 

LGFA fixed rate bond offer: Bookbuild update 2 

On 20 August 2019, New Zealand Local Government Funding Agency Limited (LGFA) announced that it is offering NZ$350,000,000 unsecured, unsubordinated, fixed rate bonds with a maturity date of 20 April 2029 (Bonds) to institutional and New Zealand retail investors, with the ability to accept up to $200,000,000 of 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 20 August 2019. 
The bookbuild process is underway. 

An update is set out below: 

Bookbuild orders 

As at 8.00am NZT in excess of NZ$400,000,000 within the revised indicative Margin range below (including NZ$50,000,000 of Bonds reserved for subscription by LGFA and interest from the Joint Lead Managers) 

Indicative Margin 

The indicative Margin range set out in the Series Notice was 
0.48 – 0.52 per cent per annum. Based on investor interest, the indicative Margin range is revised to 0.48 – 0.49 per cent per annum 

Indicative Issuance Yield 

Based on the revised indicative Margin, 1.715 - 1.725 per cent per annum 

Closing Date 

Bids due by 2pm NZT, 21 August 2019 

ISIN NZLGFDT012C4 

Joint Lead Managers 

ANZ 
Phone: 0800 269 476 

Bank of New Zealand 
Phone: 0800 284 017 

Westpac Banking Corporation 
Phone: 0800 942 822 
ENDS 

For all investor relations and media queries, please contact: 

Mark Butcher, Chief Executive 
mark.butcher@lgfa.co.nz / 04 974 6744