The company is looking to raise up to $200 million. "The proposed bond issue will provide Sky with long-term funding to repay the capital notes and retire some bank debt," Sky chief executive John Fellet says.
The proposed offer will consist of a priority pool of up to $105 million for holders of Sky's existing capital notes, firm allocations to NZX Firms and financial institutions and possibly a public pool.
It is proposed that the offer will open on September 20, and close for capital noteholders on October 3, and for other investors on October 12.
Sky intends to repay the existing capital notes on October 16 under the terms of the capital notes trust deed.
No money is currently being sought and no applications for bonds will be accepted or money received prior to investors receiving a copy of an investment statement in respect of the bonds.
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