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Mark Butcher
Chief Executive at NZ Local Government Funding Agency
Mark Butcher is the Chief Executive of the New Zealand Local Government Funding Agency (LGFA), a position he has held since August 2014. Under his leadership, the LGFA has established itself as a significant issuer in the New Zealand bond market, providing funding for over 70 local councils and accounting for approximately 95% of sector debt. The agency has successfully consolidated borrowing activities to create a robust yield curve of high-grade liquid bonds, with total bonds issued nearing NZ$16 billion.1
Career Background::
- Prior to becoming CEO, Butcher served as a Director at LGFA from November 2011 to August 2014.
- He holds various leadership roles, including Board Member of the New Zealand Financial Markets Association and Chair of the Waikato Tainui Group Investment Committee.
- His extensive experience includes positions such as Chief Investment Officer at Perpetual Capital Management and Head of Investor Sales at Westpac Institutional Bank.2
Achievements and Focus:: Butcher has been instrumental in the LGFA's growth and its ambitions in sustainable finance, including efforts towards issuing green bonds. The agency has achieved carbon zero certification and launched a green, social, and sustainability lending program for councils.1
He is also involved in governance-related committees, contributing to the strategic direction of financial management in local government.2
For more details about his professional background, you can view his LinkedIn profile at mark-butcher-a0131128 .2
Highlights
Thanks to our existing investor base and to those new investors who supported our return to the Kangaroo market last week for the third time since July 2023.
It was pleasing to this time undertake a dual tranche issue for A$500 million each of a 3.5-year (Sept 2027) and 10-year bond (March 2034). This has helped us build a curve alongside our existing 5 and 7-year bond maturities and raise A$2.65 billion from the market over the past seven months . I am hoping that the issue was as pleasing an outcome for investors and as it was for LGFA.
The transaction would not have been as successful without the hard work and support from the DCM, Investor Sales and Trading teams at ANZ, CBA, UBS and WBC alongside Russell McVeagh and King & Wood Mallesons. Thanks to everyone who helped make the bond issue another successful step in our journey providing finance to New Zealand councils and CCOs. Brenton Smith, CFA, Carolyn Ng, Simon Eckhoff, Matt Wilsher, Danny Keene, Nikolaus Romuld, Lauren Boyle, Desmond Fennell, James Holian, Jeslyn Loo, Tiffany Chung, Jack Geddes, Mat Carter, David Goddard, CFA, Fiona Doddrell, Elliot Wolgamot, Cameron Lofstedt, Jared Barr, Nick Kalisperis, Paul Neumann, Deemple Budhia, Liam Gunning,Phil Harvey, Tracey Yeung, Tiffany Ha
