Laid down in January 1964, "Waikato" was constructed by Harland and Wolff and was delivered in 1966, commissioning into the RNZN in September that year. Displacing 2,450 tons standard and 3,200 tons at full load, "Waikato" was long, had a beam of and a draught of . She was fitted with two Babcock & Wilcox boilers which delivered steam to two English Electric geared steam turbines, producing to two shafts, which gave "Waikato" a top speed of . Her range was at , and she had a complement of 18 officers and 248 sailors.