FIXED RATE BOND OFFER – INDICATIVE ISSUE MARGIN

MARKET RELEASE
SkyCity Entertainment Group Limited - (SKC.NZX/SKC.AX)

FIXED RATE BOND OFFER – INDICATIVE ISSUE MARGIN

Further to the announcement by SkyCity Entertainment Group Limited (“SkyCity”) of an offer of up to NZ$125 million (with the ability to accept oversubscriptions of up to an additional NZ$50 million at SkyCity's discretion) of 6 year, unsecured, unsubordinated, fixed rate bonds maturing on 21 May 2027, SkyCity today announced indicative pricing for the offer.

The interest rate for the bonds will be no less than the minimum interest rate of 3.00% per annum and the indicative issue margin range above the underlying swap rate for the bonds is 1.70% to 1.90% per annum.

The issue margin and interest rate for the bonds will be set following a bookbuild process, which is expected to be completed on 14 May 2021, and announced via NZX shortly thereafter.

The offer opens today and is expected to close on 14 May 2021 following the bookbuild process, with the bonds expected to be issued on 21 May 2021.

The bonds have been rated BBB- by S&P Global Ratings.

There is no public pool for the offer, with all of the bonds being reserved for clients of the Joint Lead Managers, NZX Participants and other approved financial intermediaries.

Full details of the offer are contained in the Product Disclosure Statement (“PDS”). The PDS is available through www.skycityentertainmentgroup.com/BondOffer or by contacting a Joint Lead Manager or a NZX Participant and must be obtained by investors before they decide to acquire any bonds. The PDS (together with further information in relation to the bonds and the offer) is also available on the Disclose Register at www.companiesoffice.govt.nz/disclose under SkyCity’s offer number OFR13093. There are restrictions on offering, issuing or selling bonds outside New Zealand, as set out in the Disclose Register entry for the offer.

A copy of the indicative terms sheet (updated for the indicative issue margin range and minimum interest rate set out above) has been provided to NZX with this announcement and that terms sheet and other related documents concerning the bonds are also available through www.skycityentertainmentgroup.com/BondOffer.

Interested investors should contact a Joint Lead Manager or their usual financial adviser.

Arranger and Joint Lead Manager
Westpac - 0800 772 142

Joint Lead Managers

ANZ - 0800 269 476
Commonwealth Bank - 0800 272 266
Craigs - 0800 226 263
Forsyth Barr - 0800 367 227
Jarden - 0800 005 678

ENDS

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Announcement PDF