Sky TV offer

Sky Network TV is considering issuing up to $200 million in 10-year bonds to New Zealand investors, the company said yesterday.

The proposed offer would consist of a priority pool of up to $105 million for holders of Sky's existing capital notes, allocations to stock exchange firms, and possibly a public pool.

The interest rate would be re-settable annually, and for the first year would be at least 8 per cent.

The proposed bonds would be on offer from September 20.

- NZPA