INM confident of bond refinancing

INDEPENDENT News & Media (INM) is confident of reaching a repayment or refinancing agreement regarding its €200 million bond within the next five weeks, after being granted an extension to its deadline, as expected, yesterday.

INM’s board last week requested a so-called standstill agreement from bondholders, basically allowing it more time to negotiate.

Yesterday, it announced that the request had been granted, with the period running from yesterday to June 26.