INM to meet bondholders in bid to broker deal

REPRESENTATIVES of Independent News & Media (INM) are set to meet with bondholders in London later today, in a bid to thrash out some kind of mutually attractive settlement over the refinancing of the outstanding€200 million bond, owed by the group, just 10 days before the deadline.

That deadline has already been extended once – from late May – but, although it could be, it is unlikely to be extended again.

INM’s new chief executive, Gavin O’Reilly, said as much at the group’s annual general meeting last Friday and reiterated that the board remained confident of an agreement being reached by June 26.