SkyCity to sell up to $125 mln of bonds to repay bank debt

Mon, 24 Aug 2015

By Paul McBeth Aug. 24 (BusinessDesk) - SkyCity Entertainment Group, the country's only listed casino operator, plans to sell as much as $125 million of bonds, using the proceeds to repay bank debt. The Auckland-based company will sell $100 million of seven-year redeemable, fixed-rate bonds, and will take oversubscriptions of up to $25 million, it said in a statement. The price will be set in a bookbuild with primary market participants, institutional investors and other financial intermediaries, with an indicative coupon of between 4.65...

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