Summerset Launches Fixed Rate Retail Bond Offer

NZX & ASX RELEASE

12 May 2025

SUMMERSET LAUNCHES FIXED RATE RETAIL BOND OFFER

Summerset Group Holdings Limited (Summerset) announced today that it is offering up to NZ$100 million (with the ability to accept up to an additional NZ$50 million of oversubscriptions at Summerset’s discretion) of six year, fixed rate bonds maturing on 23 May 2031 to institutional and New Zealand retail investors.

The Interest Rate will be the sum of the Issue Margin plus the Base Rate, but in any case will be no less than the minimum Interest Rate of 5.35% per annum. The indicative Issue Margin Range for the bonds is 1.95% to 2.10% per annum. The actual Issue Margin may be above or below the indicative Issue Margin Range.

The Issue Margin and Interest Rate will be set following a bookbuild process which is expected to be completed on 15 May 2025 and will be announced by Summerset via NZX shortly thereafter.

Full details of the bond offer are contained in the Indicative Terms Sheet, available through www.summerset.co.nz/bondoffer or by contacting the Joint Lead Managers or your usual financial adviser, and must be obtained by investors before they decide to acquire any bonds.

This offer is being made in accordance with the Financial Markets Conduct Act 2013 and the bonds are expected to be quoted on the NZX Debt Market on 26 May 2025 under ticker code SUM060.

There is no public pool for the bonds, which will be reserved for clients of the Joint Lead Managers, institutional investors and other primary market participants invited to participate in the bookbuild.

Joint Lead Managers
ANZ
Commonwealth Bank of Australia
Craigs Investment Partners
Forsyth Barr

ENDS

For investor relations enquiries:
Margaret Warrington
Chief Financial Officer
[email protected]
+64 4 894 7320

For media enquiries:
Louise McDonald
Senior Communications & Media Advisor
[email protected]
+64 21 246 3793

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Announcement PDF