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Term Sheet

15/08/2022 12:06p.m.
NZ/AU Markets   
Exchange Traded Funds   
NZ Fixed interest   
New Issues
Cash Management Trust Account
Issuer Sky City Limited
Guarantor The bonds are guaranteed by all current subsidiaries of SKC.
Business of the Issuer Sky City is a casino owner and operator with businesses in New Zealand and Australia.
Instrument Unsecured, unsubordinated, redeemable fixed rate bonds.
NZDX Code SKC040
Ranking Unsecured, unsubordinated
Issue Size $125m
Maturity Date 28 September 2022
Coupon Rate 4.65%
Credit Rating BBB-
Maturity Mechanism SKC may elect to redeem all, but not partially, of the SKC040 bonds for cash on any interest payment date after the third anniversary of the issue date. The early redemption amount being the greater of: an amount equal to the Principal Amount plus accrued interest; and the average price, weighted by volume, of all trades of Bonds through the NZX Debt Market over the 10 Business Days immediately prior to the date on which SKC gave the redemption notice.
Payment Frequency Quarterly
Coupon Payments Quarterly payments on 28 March, 28 June, 28 September and 28 December
Minimum Holding 5,000
Minimum Parcel Size 1,000
Registry Computershare Registry Services

Jarden Securities Limited (“us”, “we” or “our”) owns and operates the Direct Broking platform and service. We have compiled this fixed interest term sheet (“Term Sheet”) for your information purposes only. We have provided this Term Sheet to you in good faith and have prepared it using our own views, external sources, material, systems and other information that we believe to be accurate, complete and reliable at the time of preparation, but the accuracy, correctness and completeness cannot be guaranteed. We make no representation or warranty, express or implied, as to the accuracy, correctness or completeness of the information contained within this Term Sheet, and nothing shall be deemed to constitute any representation or warranty. To the fullest extent permitted by law, we shall not be liable or responsible for any error or omission.

This Term Sheet is not to be relied upon as a basis for making any investment decision. This Term Sheet does not take into account your particular financial situation or goals, and does not, therefore, constitute personalised financial advice under the Financial Advisers Act 2008, nor does it constitute advice of a legal, tax, accounting or other nature. Please consult your adviser in relation to any investment decision. To the fullest extent permitted by law, we shall not be liable for any decision made or action taken by you or a third party based on, or in reliance on, any information contained in this Commentary.

We and our related and associated companies, directors, employees may have an interest in the bonds mentioned in this Term Sheet, including but not limited to financial. We are an NZX Firm. A disclosure statement is available on request.

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