LGFA launches fixed rate bond offers

NZX Announcement 8 April 2024 New Zealand Local Government Funding Agency Limited (LGFA) announced today that it is offering the following existing series of unsecured, unsubordinated, fixed rate bonds to institutional and New Zealand retail investors (together, the 'Bonds'). Each series of Bonds is already quoted on the NZX Debt Market. 2026 Bonds Maturity Date: 15 April 2026 NZX ticker code: LGF120 Coupon/Interest rate: 1.50% per annum Amount offered: NZ$150 million, with the ability to accept unlimited oversubscriptions at LGFA's discretion Indicative Margin Range: 0.25% to 0.27% per annum 2031 Bonds Maturity Date: 15 May 2031 NZX ticker code: LGF140 Coupon/Interest rate: 2.25% per annum Amount offered: NZ$150 million, with the ability to accept unlimited oversubscriptions at LGFA's discretion Indicative Margin Range: 0.73% to 0.76% per annum Other information For each series of Bonds, the Issuance Yield will be the sum of the Margin and the Base Rate. The Margin for each series of Bonds will be set following a bookbuild on the Rate Set Date, being 9 April 2024. The Issuance Yield, Margin and Issue/Settlement Price for each series of Bonds will be announced by LGFA via NZX shortly thereafter. The offers will close at 11:00 am on 9 April 2024, with the Bonds expected to be issued on 15 April 2024. LGFA does not intend to offer any additional tranches of the Bonds until its July 2024 tender, currently scheduled for the week commencing 1 July 2024. Full details of the Bond offers are contained in the Series Notices attached. The offers will each be made as an offer of debt securities of the same class as existing quoted debt securities pursuant to the Financial Markets Conduct Act 2013. The notices required by the Financial Markets Conduct Regulations 2014 have been provided to NZX. There is no public pool for the Bonds, which will be reserved for the Joint Lead Managers, institutional investors and other primary market participants invited to participate in the bookbuilds. Joint Lead Managers ANZ Phone: 0800 269 476 BNZ Phone: 0800 275 269 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 End CA:00429167 For:LGF Type:OFFER Time:2024-04-08 08:31:04