New Zealand Local Government Funding Agency

Sunday, 17 March 2019

LGFA strategy evolution leads to record volume deal

New Zealand Local Government Funding Agency (LGFA) undertook its first-ever syndicated transaction on 12 March. The deal represents a change in strategy for the borrower, which deal sources say allows it better to engage domestic and offshore investors seeking larger allocations – an outcome that was evident in the record volume achieved.

Monday, 03 August 2020

LGFA uses sovereign slipstream to extend curve

Following the pricing of its longest-dated syndicated deal, on 30 July, New Zealand Local Government Funding Agency (LGFA) says the deal harnessed momentum generated in the long end by recent syndications from the Australian and New Zealand sovereign borrowers.

Tuesday, 28 July 2020

LGFA launches NZ$500 million dual-tranche transaction via syndication

On 29 July, New Zealand Local Government Funding Agency (LGFA) (AA+/AA+) launched an indicative NZ$500 million (US$333 million) dual-tranche transaction to institutional and New Zealand retail investors by syndication. The forthcoming offer includes a NZ$200 million April 2022 line and a NZ$300 million April 2037 line.

Thursday, 23 July 2020

LGFA preparing potential new syndicated deal and tap

On 24 July, New Zealand Local Government Funding Agency (LGFA) revealed plans for a potential new April 2037 line and an increase to its existing April 2022 bonds. LGFA will hold a global investor conference call on 27 July. BNZ is arranger and lead manager alongside ANZ, Commonwealth Bank and Westpac Banking Corporation New Zealand Branch.

Thursday, 16 July 2020
Jun/Jul 2020

Open economy, closed border: opportunities and challenges in New Zealand

New Zealand’s government-sector issuers experienced market upheaval as severe as their neighbours in Australia during the height of the COVID-19 crisis in March and April. Intervention from the Reserve Bank of New Zealand (RBNZ) and an enviable pace of economic reopening have improved the outlook, but issuers at a KangaNews-Westpac roundtable in June say plenty of challenges remain to be faced.

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