NZX Announcement
13 October 2021

New Zealand Local Government Funding Agency Limited (LGFA) today announced that following the successful bookbuild process for its offers of:

a) unsecured, unsubordinated, fixed rate bonds with a maturity date of 15 May 2028 (2028 Bonds), it has set the issue size at NZ$800 million (including NZ$100 million of 2028 Bonds reserved for subscription by LGFA). As at offer close at 2pm NZT, bookbuild orders in excess of NZ$800 million (including NZ$100 million of 2028 Bonds reserved for subscription by LGFA) at the Margin of 0.25% per annum were received; and

b) unsecured, unsubordinated, fixed rate bonds with a maturity date of 15 May 2035 (2035 Bonds, together with the 2028 Bonds, the Bonds), it has set the issue size at NZ$500 million (including NZ$100 million of 2035 Bonds reserved for subscription by LGFA). As at offer close at 2pm NZT, bookbuild orders of NZ$500 million (including NZ$100 million of 2035 Bonds reserved for subscription by LGFA) at the Margin of 0.46% per annum were received.

The Margin for the 2028 Bonds has been set at 0.25% per annum. The Margin for the 2035 Bonds has been set at 0.46% per annum.

The Issuance Yield, Coupon/Interest Rate and Issue/Settlement Price for each of the 2028 Bonds and 2035 Bonds will be announced shortly.

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 18 October 2021. The 2028 Bonds are expected to be quoted on the NZX Debt Market on 19 October 2021 under the ticker code LGF150. The 2035 Bonds are expected to be quoted on the NZX Debt Market on 19 October 2021 under the ticker code LGF160.

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