Roger Kerr posted on October 18, 2010 21:43
Sky City Entertainment Group Limited has announced that it is selling up to NZD50m of the company’s 7.25% May 2015 capital notes.
These are currently held by the company as treasury stock after only NZD47m of the preceding issue of capital notes were rolled by holders under the new terms offered in May of this year.
The capital notes are being offered at a yield of 7.25% which implies a margin to swap of approximately 290bps.
The security has been trading in limited size on the NZDX at a yield of ~7.25% since the rollover took place in May.