NZX Announcement
25 June 2024

LGFA releases the 2024-27 Statement of Intent, announces bond issuance programme for 2024-25.

Statement of Intent

The New Zealand Local Government Funding Agency (LGFA) has released its Statement of Intent (“SOI”) to shareholders that covers the three-year period from 1 July 2024 to 30 June 2027.

The SOI is attached here

Bond Issuance Programme

The SOI includes the strategic priorities, objectives, performance targets and financial forecasts for the organisation. As part of the financial forecasts, it is assumed the projected gross bond issuance (excluding treasury stock) for the next three years will be:

FY25 NZ$5.4 billion
FY26 NZ$5.5 billion
FY27 NZ$5.9 billion

As was the case in FY24, LGFA intends to utilise a mix of financing sources including NZD bonds and bills and foreign currency denominated bonds and ECP

Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief Executive.

Telephone +64 4 974 6744