INM to get more time for €200m bond deal

THE Independent News & Media (INM) board is likely to be granted more time to reach a refinancing deal regarding its €200 million bond, which reaches deadline next Monday.

It is understood the group has formally requested from its banks and the bondholders a standstill agreement – which would give it more time in which to negotiate a debt restructuring deal with bondholders.

The bondholders are expected to respond later this week, but the signs point towards granting INM’s request.