A body set up to allow councils to borrow money more cheaply is more than half way to its $1 billion target this year, with global investors continuing to show strong interest in its bond issues.
The Local Government Funding Authority represents 18 local authorities, and at Wednesday's second tender sold $265 million worth of three and six year bonds.
It's now raised $565 million in total.
Authority chief executive Philip Combes says that robust demand from global investors means it's achieving its goal of curbing its interest bills.
The Government plans to limit rates increases, and get councils to focus more on infrastructure and public services.
Mr Combes says that may limit how much the authority raises in future years.