Investor Relations
News Detail
6th Jun 2003
Oversubscribed Issue of New CEPS
Independent News & Media PLC [‘INM’] today announced that its wholly owned subsidiary, News & Media NZ Limited, has successfully concluded the fresh issue of NZ$225.0 million (approximately €110 million) unsecured, subordinated Cumulative Exchangeable Preference Shares (CEPS), which will refinance the existing NZ$181.8 million CEPS, which were due to mature on 30th November 2003.
With the funds already committed being well in excess of the NZ$181.8 million required to refinance the existing CEPS, INM has decided not to accept any further subscriptions, and therefore there will be no public pool.
