LGFA release Draft SOI 2023-26/Forecast Borrowing Programme

NZX Announcement 24 February 2023 LGFA releases Draft SOI 2023-26 and Forecast Borrowing Programme Under the Local Government Act 2002, LGFA is required to publish a Draft Statement Of Intent (SOI) by 28 February 2023 and publish a Final SOI by 30 June 2023. The draft is attached to this announcement. The three year financial forecasts within the SOI assume the Three Waters Reform programme does not proceed, which is consistent with how councils have prepared their 2021-31 Long Term Plans (and borrowing forecasts). LGFA will update the market as assumptions relating to the Three Waters Reform programme change. The Draft SOI outlines an assumed bond issuance programme of: FY24 $3.2 billion FY25 $3.2 billion FY26 $3.15 billion There is no change to the current FY23 bond issuance programme of $2.9 billion but an update will be provided in early April 2023. To date LGFA has issued $2.113 billion of bonds this financial year. ENDS Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief Executive. Telephone +64 4 974 6744 Email mark.butcher@lgfa.co.nz Website lgfa.co.nz End CA:00407335 For:LGF Type:GENERAL Time:2023-02-24 15:33:24