06 October 2020
LGFA Releases Quarterly Investor Update and Revision to Funding Programme
LGFA has today released its quarterly update to investors (attached).
Following revised borrowing estimates from councils, LGFA has increased the estimated size of the 2020-21 bond issuance programme by $300 million to $2.83 billon and the 2021-22 bond programme by $300 million to $2.4 billion. There is no change to the estimated 2022-23 bond issuance programme.
Given that LGFA issued $1.3 billion of LGFA bonds in the September quarter, it expects to issue $1.53 billion in the nine month period to June 2021.
LGFA will provide the next update in mid-January.
Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief Executive.
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