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Summerset Group Holdings Limited, 7 Year Fixed Rate Bond

Summerset Group Holdings Limited (Summerset) announced today that it is offering up to NZ$75,000,000 of 7 year guaranteed, secured, unsubordinated fixed rate bonds (Bonds) to institutional and New Zealand retail investors, with the ability to accept up to NZ$25,000,000 oversubscriptions at Summerset’s discretion. Summary details of the offer below (please refer to the Indicative Terms Sheet for more detail):

Summarised details of the offers are below.

Issuer:                                  Summerset Group Holdings Limited

Description:                         Guaranteed, secured, unsubordinated, fixed rate bonds

Maturity Date:                      Wednesday, 24 September 2025 (7 Year)

Size:                                      Up to NZ$75 million plus oversubscriptions of up to NZ$25 million at the discretion of the Issuer

Minimum Interest Rate:       The Interest Rate will be the sum of the Issue Margin and the Base Rate, but in any case will be no less than the minimum Interest Rate of 4.15% per annum. The Interest Rate will be announced by Summerset via NZX on or shortly after the Rate Set Date.

Interest Payments:                Quarterly in arrear in equal amounts on 24 March, 24 June, 24 September and 24 December of each year up to and including the Maturity Date.

Listing:                                   Application has been made to NZX to quote the Bonds on the NZX Debt Market, ticker code SUM020

Brokerage:                             No brokerage payable by investors.

Minimum Application:          $5,000 and in multiples of $1,000 thereafter


Important Dates 

Opening Date:   10 September 2018

Closing Date:     14 September 2018

Rate Set Date:    14 September 2018

Issue Date:         24 September 2018

Quotation           25 September 2018

If you wish to bid through us, please advise your demand number by no later than 4.00 PM Thursday, 10th September 2018.


PLEASE NOTE: If you have not already supplied us with the following, we will require a certified copy of valid ID (such as a drivers licence), proof of address and proof of banking details (such as a banking statement). We will ONLY accept your application if you supply the above.


Term Sheet


We strongly recommend you discuss with your adviser at Equity Investment Advisers Ltd to ensure you understand the terms and conditions.

If this offer is of interest to you please register your interest  below so that we can contact you

Expression of Interest click here

Registering your interest does not have any obligation to purchase these bonds. No money is sought at this point.

Please note the allocation may be scaled depending on availability.