US PRIVATE PLACEMENT NOTES – AGREEMENT OF KEY TERMS

1 November 2017

Client Market Services
NZX Limited
Level 1, NZX Centre
11 Cable Street
WELLINGTON


Copy to:

ASX Market Announcements
Australian Stock Exchange
Exchange Centre
Level 6
20 Bridge Street
Sydney NSW 2000
AUSTRALIA


RE: SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)
US PRIVATE PLACEMENT NOTES – AGREEMENT OF KEY TERMS


Please find attached a market release regarding a new US$150 million issue of
US Private Placement notes.


Yours faithfully



Jo Wong
Company Secretary

MARKET RELEASE
1 November 2017


US$150 MILLION ISSUE OF US PRIVATE PLACEMENT NOTES

SKYCITY Entertainment Group Limited has today reached agreement on a new
US$150 million issue of US Private Placement (USPP) notes.

The USPP issue represents the penultimate component of SKYCITY’s debt funding
plan for its capital investment programme in New Zealand and Australia. The final
component of SKYCITY’s debt funding plan is proposed to be a second New Zealand
bond issue, planned for 2018.

The USPP issue will comprise two tranches:

• a US$100 million tranche maturing in March 2025; and
• an A$65.4 million (equivalent to US$50 million) tranche maturing in March 2028.

The US dollar tranche has been swapped back to New Zealand dollars to remove all
currency exposure to the US dollar.

The USPP issue has been priced at attractive margins relative to recent comparable
issues and extends SKYCITY’s average debt maturity out to 4.6 years.

The transaction remains subject to execution of final documentation. Upon
execution, the USPP notes will be issued in March 2018 to coincide with the maturity
of US$75 million of existing USPP debt. The balance of the proceeds will initially be
used to repay bank debt.



For more information contact:

Ben Kay
Investor Relations & Corporate
Development Manager
DDI: +64 9 363 6067
Email: ben.kay@skycity.co.nz