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Term Sheet

06/04/2020 11:28a.m.
NZ/AU Markets   
Exchange Traded Funds   
NZ Fixed interest   
New Issues
Government Kiwi Bonds
Cash Management Trust Account
Issuer Sky Network Television Limited
Business of the Issuer Sky Network Television Limited (branded as SKY) is a New Zealand pay television satellite TV provider. On 31 December 2018, Sky had 750,321 subscribers across satellite and OTT services, making it the largest pay television platform in New Zealand.
Instrument Unsecured, unsubordinated, fixed rate bonds.
NZDX Code SKT020
Ranking Unsecured, unsubordinated
Issue Size $100m
Maturity Date 31 March 2021
Coupon Rate 6.25%
Credit Rating Not Rated
Maturity Mechanism SKT may at its sole discretion make a full or pro rata repayment to bondholders on each of 31 March 2018, 31 March 2019, or 31 March 2020. The repayment price will be calculated as the greater of: 1. The aggregate of the principal amount and accrued interest and all other amounts owing on the bond; and 2. The volume weighted market price of the bond over a 10 business day period.
Payment Frequency Quarterly
Coupon Payments Quarterly payments on 31 March, 30 June, 30 September and 31 December.
Minimum Holding 5,000
Minimum Parcel Size 1,000
Registry Computershare Investor Services Limited

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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