Media company looks to raise $200m
The publisher of the New Zealand Herald and owner of The Radio Network, APN News, is mulling a bond offer to raise as much as $200 million.
Monday, 18 October 2010
The media company is testing investor interest in a proposed five-year bond offer of $150 million, with the option to accept oversubscriptions of up to $50 million.
The company will use the funds for general financing purposes, and to diversify its debt profile.
ANZ, Bank of New Zealand, Forsyth Barr and Goldman Sachs will act as joint lead managers.
The shares in Australian parent APN News & Media Ltd. rose 1.2% to $2.56 on the NZX, and are down 15% this year.
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