Government sold Chorus loans for $702m but kept undisclosed risk backstop through NIFFCo

The Government will net about $702m selling interest-free Chorus loans — $60m above book value — with settlement expected in August 2026. Infrastructure Minister Chris Bishop said Crown-owned NIFFCo gave investors "limited protection for unlikely risks." The Government has not disclosed that protection's nature, scale, or potential Crown exposure. The proceeds were already factored into Budget 2026.