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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