SkyCity has successfully completed the refinancing of its debt facilities, extending $465 million of debt across three-, four-, and seven-year maturities.
The refinancing, which was done through the United States Private Placement (USPP) programme and the syndicated revolving credit facility, replaces debt tranches that were set to mature in the 2025 and 2026 financial years.
SkyCity entered into a note purchase agreement for $247m of seven-year fixed-term debt and secured cross-currency interest rate swap agreements.
The company also reached agreements with two members of its bank syndicate to extend the maturities of debt tranches worth $218m.
Following these transactions, SkyCity will have no debt maturing before May 2027.
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