INM lenders to appoint adviser over €1.3bn debt

BONDHOLDER lenders to Independent News & Media will shortly appoint a financial adviser to help them negotiate their portion of the company’s €1.3 billion debt pile, a source close to the situation said yesterday.

The lenders are considering whether to grant the company extra time to repay a €200 million bond that matures on May 18, two other sources told Reuters news agency.

Investment bank Houlihan Lokey is one of the favourites to claim the mandate to negotiate for lenders, a source with knowledge of the industry said, citing its experience working with creditors.