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Term Sheet
23/03/2019 09:48p.m.
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Issuer
NZ Local Govt Funding Agency
Business of the Issuer
The New Zealand Local Government Funding Agency (LGFA) is a Council-Controlled Organisation (CCO) operating under the Local Government Act 2002. LGFA specialises in financing the New Zealand local government sector, the primary purpose being to provide more efficient funding costs and diversified funding sources for New Zealand local authorities.
Instrument
Secured fixed rate bonds
NZDX Code
LGF050
Ranking
The Bonds are fixed rate debt obligations of the funding authority which is a Council Controlled Organisation operating under the Local Government Act 2002.
Issue Size
$355m
Maturity Date
15 April 2023
Coupon Rate
5.50%
Credit Rating
AA+
Maturity
Mechanism
Cash on maturity.
Payment Frequency
Semi-annually
Coupon Payments
Semi-annually on 15 April and 15 October.
Minimum Holding
10,000
Minimum Parcel Size
1,000
Registry
Computershare
First NZ Capital Securities Limited (“us”, “we” or “our”) owns and operates the Direct Broking platform and service. We have compiled this fixed interest term sheet (“Term Sheet”) for your information purposes only. We have provided this Term Sheet to you in good faith and have prepared it using our own views, external sources, material, systems and other information that we believe to be accurate, complete and reliable at the time of preparation, but the accuracy, correctness and completeness cannot be guaranteed. We make no representation or warranty, express or implied, as to the accuracy, correctness or completeness of the information contained within this Term Sheet, and nothing shall be deemed to constitute any representation or warranty. To the fullest extent permitted by law, we shall not be liable or responsible for any error or omission.
This Term Sheet is not to be relied upon as a basis for making any investment decision. This Term Sheet does not take into account your particular financial situation or goals, and does not, therefore, constitute personalised financial advice under the Financial Advisers Act 2008, nor does it constitute advice of a legal, tax, accounting or other nature. Please consult your adviser in relation to any investment decision. To the fullest extent permitted by law, we shall not be liable for any decision made or action taken by you or a third party based on, or in reliance on, any information contained in this Commentary.
We and our related and associated companies, directors, employees may have an interest in the bonds mentioned in this Term Sheet, including but not limited to financial. We are an NZX Firm. A disclosure statement is available on request.
Read full disclaimer
https://www.fnzc.co.nz/disclaimer/
