INM hopeful of bond agreement

MANAGEMENT at Independent News & Media (INM) is hopeful of finally reaching a refinancing agreement with lenders on its long overdue €200 million bond, without having to seek a fourth deadline extension — and has ruled out any need for the business to go into examinership.

The group received a third extension to its standstill agreement deadline — to September 25 — on Thursday evening.

INM chief executive, Gavin O’Reilly, said yesterday the latest timeframe should be enough to reach a conclusion on the talks and that good progress was being made; although he added there was no guarantee a further extension wouldn’t be necessary.