Summerset Considers Retail Bond Offer

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz


NZX & ASX RELEASE

31 August 2020

SUMMERSET CONSIDERS RETAIL BOND OFFER
Summerset Group Holdings Limited (Summerset) is considering making an offer of up to NZ$100 million
(with the ability to accept up to NZ$50 million of oversubscriptions at Summerset’s discretion) of seven
year, fixed rate bonds to New Zealand institutional and retail investors. The bonds will be
unsubordinated obligations of Summerset, and will have the benefit of a guarantee and security package
provided by the Summerset guaranteeing group.
Summerset Chairman Rob Campbell noted that this retail bond offer follows Summerset’s previous
successful issues in June 2017 and September 2018.
“Another bond issue allows Summerset to continue its strong, well-managed development growth while
providing additional diversification of funding sources and tenor,” said Mr Campbell.
It is expected that full details of the offer will be released the week beginning 7 September 2020, when
the offer is scheduled to open.
Summerset has appointed ANZ Bank New Zealand Limited (ANZ) as Arranger, and ANZ, Craigs
Investment Partners Limited, Forsyth Barr Limited and Jarden Securities Limited as the Joint Lead
Managers and Hobson Wealth Partners Limited as a Co-Manager in relation to the proposed offer.
Investors can register their interest in the offer by contacting a Joint Lead Manager or the Co-Manager
as detailed below, or their financial adviser. Indications of interest will not constitute an obligation or
commitment of any kind to acquire the bonds.
No money is currently being sought and applications for the bonds cannot currently be made. If
Summerset offers the bonds, the offer will be made in accordance with the Financial Markets Conduct
Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. The bonds
are expected to be quoted on the NZX Debt Market.

Joint Lead Managers




0800 269 476

0800 226 263




0800 367 227

0800 005 678


Co-Manager




0800 742 737




ENDS


For investor relations enquiries: For media enquiries:
Scott Scoullar Jenny Bridgen
CFO and Deputy CEO Communications Manager
scott.scoullar@summerset.co.nz jenny.bridgen@summerset.co.nz
029 894 7317 021 408 215


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New Zealand,
with 31 villages completed or in development across the country. In addition, Summerset has
eight sites for development in Milldale (Auckland), Parnell (Auckland), Prebbleton (Canterbury),
Rangiora (Canterbury), Waikanae (Kapiti Coast), Blenheim (Marlborough), Cambridge (Waikato)
and Lower Hutt (Wellington), plus two sites in Victoria, Australia, bringing the total number of
sites to 41.
• It provides a range of living options and care services to more than 5,700 residents.
• The Summerset Group has villages in Aotea, Avonhead, Bell Block, Casebrook, Dunedin,
Ellerslie, Hamilton, Hastings, Havelock North, Hobsonville, Karaka, Katikati, Kenepuru, Levin,
Manukau, Napier, Nelson, New Plymouth, Palmerston North, Papamoa Beach, Paraparaumu,
Richmond, Rototuna, St Johns, Taupo, Te Awa, Trentham, Wanganui, Warkworth, Whangarei
and Wigram.