Summerset launches seven-year retail bond

Summerset Group Holdings (Summerset) launched a NZ$75-100 million (US$49-65.3 million), seven-year bond offer on 10 September. The deal is open to New Zealand institutional and retail investors, with indicative price guidance of 165-175 basis points over mid swap. The final margin and interest rate will be determined following a bookbuild process on 14 September, when the offer is expected to close.