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

6 May 2025


SUMMERSET CONSIDERS RETAIL BOND OFFER
Summerset Group Holdings Limited (Summerset) is considering making an offer of six year, fixed rate
bonds to institutional and New Zealand 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.
It is expected that full details of the offer will be released in the near future, subject to market conditions.
If the proposed offer is made, the net proceeds of the offer will be used to repay a portion of existing drawn
bank debt of the Summerset Group. Summerset then intends to use bank debt to fund the repayment of
Summerset's NZ$125 million bonds (NZX Ticker code SUM020), which mature on 24 September 2025.
Summerset has appointed ANZ Bank New Zealand Limited (ANZ) as Arranger, and ANZ, Commonwealth
Bank of Australia, Craigs Investment Partners Limited and Forsyth Barr Limited as the Joint Lead
Managers in relation to the proposed offer.
Investors can register their interest in the proposed offer by contacting a Joint Lead Manager detailed
below, or their usual 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 under the ticker SUM060.


Joint Lead Managers

 
ENDS

For investor relations enquiries: For media enquiries:
Margaret Warrington Louise McDonald
Chief Financial Officer Senior Communications & Media Advisor
investor.relations@summerset.co.nz louise.mcdonald@summerset.co.nz
+64 4 894 7320 +64 21 246 3793


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New Zealand,
with 40 villages completed or in development nationwide
• In addition, Summerset has seven proposed sites at Belmont (Auckland), Rotorua (Bay of
Plenty), Mission Hills (Napier), Masterton (Wairarapa), Otaihanga (Kāpiti Coast), Rolleston
(Christchurch), and Mosgiel (Dunedin)
• Summerset also has three villages in development (Cranbourne North, Chirnside Park and
Torquay) and four other properties in Victoria, Australia (Craigieburn, Drysdale, Mernda and
Oakleigh South)
• Summerset provides a range of living options and care services to more than 8,700 residents