Bond NZ Local Authority Funding Agency 2.25% ( NZLGFDT018C1 ) in NZD

Issuer	NZ Local Authority Funding Agency
Market price	100 % ⇌
Country	New Zealand
ISIN code	NZLGFDT018C1 ( in NZD )
Interest rate	2.25% per year ( payment 1 time a year)
Maturity	15/05/2028
Prospectus brochure in PDF format is unavailable at this time We will provide it as soon as possible
Minimal amount	1 000 NZD
Total amount	1 532 000 000 NZD
Next Coupon	15/05/2026 ( In 28 days )
Detailed description	The NZ Local Government Funding Agency (LGFA) is a Crown entity responsible for providing and managing funding for local government infrastructure projects in New Zealand, aiming to improve the efficiency and effectiveness of local government investment. A fixed-income instrument, identified by its ISIN NZLGFDT018C1, represents a notable investment opportunity within the New Zealand debt market. This particular bond is issued by the NZ Local Government Funding Agency (NZLGFA), a significant financial institution integral to New Zealand's public sector framework. Established with the primary mandate to provide cost-effective debt financing to New Zealand local authorities, the NZLGFA centralizes borrowing requirements for councils, thereby enabling them to access capital markets more efficiently and at potentially more favorable rates than they could individually. Its crucial role encompasses funding essential infrastructure and services across the country, leveraging collective borrowing power to achieve enhanced financial stability for the local government sector. As a Crown entity, the NZLGFA's operations are considered fundamental to the broader economic development and fiscal health of New Zealand, positioning its debt instruments as robust within the fixed-income landscape. The bond itself, classified as a standard obligation, originates from New Zealand and is currently trading at par, reflecting a market price of 100% of its nominal value. Denominated in New Zealand Dollars (NZD), it offers investors an annual interest rate of 2.25%. The total issue size for this bond is substantial, reaching 1,532,000,000 NZD, underscoring its significant role in financing local projects. The minimum purchase size is established at 1,000 NZD, facilitating accessibility for a range of investors. This instrument is structured with a fixed maturity date of May 15, 2028, and provides income to bondholders with an annual payment frequency, ensuring a predictable stream of returns until its redemption.