APN Media (NZ) Limited, a wholly owned indirect subsidiary of APN News & Media Limited ("APN"), has launched an issue of NZ$100 million fixed rate bonds (“APN Media Bonds”) to the public.

APN is the parent company of the largest multi media group in New Zealand and one of the largest in Australia, with revenue of over A$4 billion in the 12 months to 30 June 2010. The APN Group publish leading newspapers and magazines both in print and online, and broadcast across more than 140 metropolitan and regional radio stations. More than 40% of the APN Group's revenue was derived from New Zealand in the 2009 financial year through a number of high profile newspapers, magazines and radio stations including The New Zealand Herald, New Zealand Women's Weekly, the New Zealand Listener, Newstalk ZB and Radio Sport.

The APN Media Bonds are unsecured, unsubordinated debt obligations of APN Media (NZ) Limited, and will be guaranteed by each member of APN’s bank guarantor group, which comprises APN and certain wholly owned subsidiaries of APN.

The bonds have a maturity date of 15 March 2016, unless the issuer elects to redeem early.

The Minimum Interest Rate is has been set at 7.80% p.a.. The actual rate will be set on 14 December 2010 at the higher of the Minimum Interest Rate and the applicable swap rate plus the Interest Rate Margin (“Margin”). The Margin has been set at 3.10%p.a.

The net proceeds from the sale of APN Media Bonds are intended to be used for general financing purposes, providing diversification of funding sources. APN has announced there will be no increase in overall debt as a result of this issue