SUM - Summerset Considers Retail Bond Offer

Tuesday 6th May 2025

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

ANZ

Commonwealth Bank of Australia

Craigs Investment Partners

Forsyth Barr

ENDS

Summerset Considers Retail Bond Offer

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