Business Services Industry
News group rights issue will pay bondholders.
Australasian Business Intelligence, June, 2009
Byline: Neil Shoebridge
Jun 22, 2009 (The Australian Financial Review - ABIX via COMTEX) -- Independent News & Media (INM), which controls about one-third of Australia's APN News & Media, will undertake a rights issue. It is understood that INM will pay bondholders EUR100 million in cash as part of its plans to raise the EUR200 million it must repay to bondholders on 26 June 2009. Meanwhile, APN has forecast that its net profit for calendar 2009 will be within the range of $A100 million to $A110 million.
Publication Date: 23 June 2009
APN NEWS AND MEDIA LIMITED - ASX APN INDEPENDENT NEWS AND MEDIA PLC
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