The New Zealand Local Government Funding Agency NZ$ Sustainable Financing Bond (SFB) bond maturing in May 2030, has been named “Sustainability Bond of the Year – Supranational” at Environmental Finance’s Sustainable Debt Awards 2024.
LGFA structured an SFB that co-mingled sustainable asset pool of green, social, sustainability (GSS) use of proceeds loans with target-linked Climate Action Loans (CAL), which incentivise councils to set and achieve 1.5°C science-based GHG emissions reduction targets and develop credible plans.
Our thanks go out to all who contributed to this innovative transaction, including the lead managers Westpac New Zealand (Sustainability coordinator and Arranger), ANZ, BNZ and Commonwealth Bank of Australia, as well as Russell McVeagh, Sustainalytics, and local regulators FMA and NZX. Thanks also go to our fixed income investors who supported us in this ground breaking transaction.
For the full Environmental Finance announcement please click here: Sustainability bond of the year - supranational: New Zealand Local Government Funding Agency :: Environmental Finance (environmental-finance.com)