LGFA launches new 10-year syndicated deal

On 11 May, New Zealand Local Government Funding Agency (LGFA) (AAA/AA+) launched an indicative NZ$300 million (US$217.9 million) syndicated 10-year bond transaction. The forthcoming deal is being marketed at 35-38 basis points over mid swap, with pricing expected on the day after launch. BNZ is arranger for the deal and joint lead manager alongside ANZ, Commonwealth Bank and Westpac Banking Corporation New Zealand Branch.