Ministerial Announcement Regarding Crown Liquidity Facility

20/11/2024 15:46 NZDT, GENERAL

NZX Announcement

20 November 2024

MINISTERIAL ANNOUNCEMENT REGARDING CROWN LIQUIDITY FACILITY

The Minister of Local Government Simeon Brown has today announced the following at the LGFA Shareholder Borrower Day:

“I can confirm today the Crown’s intention to increase the liquidity facility. A proposal has been discussed and agreed between the Treasury and the LGFA. The Finance Minister Nicola Willis and I will shortly receive advice from the Treasury that would allow us to implement that proposal.

The Government’s increase of LGFA’s liquidity facility demonstrates to markets and credit ratings agencies that LGFA has the necessary financial strength for its central role in financing the investment in water infrastructure New Zealand requires over coming decades.

I want to acknowledge LGFA’s support for our growing communities and economy through the decision confirmed today, and for its previously announced support for Local Water Done Well through lending to council-controlled water organisations”.

Released on behalf of New Zealand 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