Summerset Considers Retail Bond Offer

NZX & ASX RELEASE 3 SEPTEMBER 2018 SUMMERSET CONSIDERS RETAIL BOND OFFER Summerset Group Holdings Limited (Summerset) is considering making an offer of up to $75 million (with the ability to accept up to $25 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 said he is pleased that Summerset is considering another retail bond issue after its successful inaugural issue in June 2017. "Another bond issue allows Summerset to continue to diversify funding sources and tenor, and provide funding certainty for future years," said Mr Campbell. It is expected that full details of the offer will be released the week beginning the 10th September 2018, when the offer is expected to open. Summerset has appointed ANZ Bank New Zealand Limited (ANZ) as Arranger, and ANZ, First NZ Capital Securities Limited, Forsyth Barr Limited and Hobson Wealth Partners Limited as Joint Lead Managers in relation to the proposed offer. Investors can register their interest in the offer by contacting a Joint Lead 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: ANZ 0800 269 476 FNZC 0800 005 678 Forsyth Barr 0800 367 227 Hobson Wealth Partners 0800 742 737 ENDS For investor relations enquiries: Scott Scoullar Deputy CEO and CFO scott.scoullar@summerset.co.nz 04 894 7320 or 029 894 7317 For media enquiries: Jenny Bridgen Senior Communications Advisor jenny.bridgen@summerset.co.nz 04 830 1106 or 021 408 215 End CA:00323211 For:SUM Type:OFFER Time:2018-09-03 08:34:49