Capital Management

Auckland Council is exploring capital management options and one possibility we are considering is the potential of buying back all or a portion of NZX listed AKC130 bond with the ISIN number NZAKCDT484C5 maturing on 28 September 2050. Auckland Council has NZD 500 million outstanding of these green bonds which were issued at par with a coupon of 2.95%. We are seeking feedback on the merits (or o…

Auckland Council is exploring capital management options and one possibility we are considering is the potential of buying back all or a portion of NZX listed AKC130 bond with the ISIN number NZAKCDT484C5 maturing on 28 September 2050. Auckland Council has NZD 500 million outstanding of these green bonds which were issued at par with a coupon of 2.95%. We are seeking feedback on the merits (or otherwise) of a buyback, stakeholder implications, the optimal process for undertaking a buyback, fees and other costs involved, and an outline of legal and other considerations. Please look into the attached documents for details information.