Threat of examinership remains a real option for INM

THE threat of examinership is still thought to be a real option for Independent News & Media (INM), as the group is now fully expected to gain yet a further extension to its existing standstill agreement with lenders over its outstanding €200 million bond – which was originally due for repayment back in May.

Even though a meeting was held this week between INM’s management and its banks and bondholders, the group has made no official comment on its plan or whether a request for extension was lodged. However, it is understood that Wednesday’s discussions were primarily aimed at “updating” lenders on where the group stands.

The latest deadline is set for next Thursday, August 27, the day before INM is due to publish its first-half financial results.