Pursuant to section 65ZD(3) of the Public Finance Act 1989, the Minister of Finance makes the following statement:
"On 3 June 2011, the Deputy Secretary, Financial Operations and Head of NZDMO acting for and on behalf of the Honourable Bill English, Minister of Finance on behalf of the Crown, provided a New Zealand Export Credit Office Financing Guarantee to Westpac Banking Corporation in relation to letters of credit issued by an off-shore bank. The New Zealand Export Credit Office guarantee liability is EUR 9.2 million as
at 7 July 2011. A premium, commensurate with the risk, was paid for this Guarantee."
Dated at Wellington this 10th day of August 2011.
PHILIP COMBES, Deputy Secretary, Financial Operations and Head of New Zealand Debt Management Office.