Thursday, 28 March 2024

Announcement

TRANSACT: SKC: US PRIVATE PLACEMENT NOTES - AGREEMENT OF KEY TERMS

01 Nov 2017 10:03NZX
MARKET RELEASE
1 November 2017

US$150 MILLION ISSUE OF US PRIVATE PLACEMENT NOTES

SKYCITY Entertainment Group Limited has today reached agreement on a new
US$150 million issue of US Private Placement (USPP) notes.

The USPP issue represents the penultimate component of SKYCITY''s debt funding
plan for its capital investment programme in New Zealand and Australia.  The
final component of SKYCITY''s debt funding plan is proposed to be a second New
Zealand bond issue, planned for 2018.

The USPP issue will comprise two tranches:

o a US$100 million tranche maturing in March 2025; and
o an A$65.4 million (equivalent to US$50 million) tranche maturing in
March 2028.

The US dollar tranche has been swapped back to New Zealand dollars to remove
all currency exposure to the US dollar.

The USPP issue has been priced at attractive margins relative to recent
comparable issues and extends SKYCITY''s average debt maturity out to 4.6
years.

The transaction remains subject to execution of final documentation.  Upon
execution, the USPP notes will be issued in March 2018 to coincide with the
maturity of US$75 million of existing USPP debt.  The balance of the proceeds
will initially be used to repay bank debt.

For more information contact:

Ben Kay
Investor Relations & Corporate Development Manager
DDI: +64 9 363 6067
Email: ben.kay@skycity.co.nz
End CA:00309590 For:SKC    Type:TRANSACT   Time:2017-11-01 10:03:48
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