Sky Network Television said it was considering making an offer of up to NZ$100 million of unsecured, unsubordinated seven-year fixed rate bonds to New Zealand investors.
The Auckland-based company is seeking preliminary indications of interest on what will probably be a seven-year unsecured, unsubordinated fixed rate bond, it said in a statement. Sky TV expects to release full details of the offer in the coming two weeks.
ANZ Bank New Zealand has been appointed arranger, organising participant and joint lead manager, and Bank of New Zealand and Westpac Banking Corp are also joint lead managers.
Sky TV has $200 million in 10-year bonds listed on the New Zealand stock exchange paying annual interest of 3.62 percent, which mature in October 2016. The notes last traded at $97.55 per $100.
At last October's annual meeting, Sky TV said it was anticipating increased capital expenditure of between $100 million and $120 million in the 2014 financial year, and is developing a host of new products aimed at providing content over tablet and mobile devices.
