Pursuant to section 65ZD(3) of the Public Finance Act 1989, the Minister of Finance makes the following statement:
“On 7 May 2015, the Acting 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 maximum guarantee liability is USD18.75 million. A premium, commensurate with the risk, will be paid for this Guarantee.”
Dated this 11th day of June 2015.
ANDREW BLAZEY, Acting Deputy Secretary, Financial Operations and Head of New Zealand Debt Management Office.