Corporates chase South Canterbury money

Casino operator Sky City Entertainment Group is the latest, offering to sell up to $50 million of its capital notes held as treasury stock.

Sky acquired the notes earlier this year when it rolled over a previous capital note issue for another five years while giving investors the choice of having them redeemed. At August 19, it was holding just under 103 million notes as treasury stock.

The notes, maturing on May 15, 2015 are being offered at 7.25% per annum, the same rate the listed notes last traded at on NZX.

Trans Tasman food giant Goodman Fielder is seeking to sell up to $250 million in bonds maturing May 16, 2016 at a minimum 7.25% interest rate in an offer opening next Monday.