13 Jul 2009

Sky City reduces debt

9:26 am on 13 July 2009

Sky City Entertainment Group has used some of the $228 million raised from investors several months ago to pay down debt.

The casino and cinema operator bought back $84.5 million in debt that was due for repayment in 2012, which has reduced its total debt by 9%.

The offer, which was at a discount of 2% to face value, was made to holders of US Private Placement debt, totalling $627 million.