SkyCity looks to raise $50m

Photo / Dean Purcell

SkyCity Entertainment Group, the trans-Tasman casino operator, is looking to raise up to $50 million from a capital note sale.

The company is selling the notes from its treasury stock, and will pay 7.25 per cent per annum in quarterly repayments.

The notes will mature in May 2015.

First NZ Capital has been appointed to manage the offer.

SkyCity's shares rose 1.4 per cent to $2.96 in trading today.