Establishment of the
New Zealand LGFA
- Cameron Partners acted as the lead financial advisor to the shareholders on the establishment of the Local Government Funding Agency (LGFA). The LGFA provides efficient funding costs and diversified funding sources for New Zealand local authorities, rated at AA+ by international credit rating agencies
- The idea for the formation of the LGFA was originated by Cameron Partners. The project was intensely complex requiring an Act of Parliament; a credit rating; services agreement, establishment of a $0.5bn liquidity facility with The New Zealand Treasury; Cabinet approval and approval of all the shareholding local authorities’ councils
- The process started in 2009 and culminated in the formation of the LGFA in December 2011 following the passing of the Local Government Borrowing Act
