INM may need 4th extension to refinancing deal

A FOURTH deadline extension to the standstill agreement between Independent News & Media (INM) and its lenders over the refinancing of its overdue €200 million bond is thought likely to be necessary.

However, it is understood the media group’s management remains positive an agreement will be reached in due course.

Just prior to the publication of INM’s first half results last month, the group was granted a third extension to its bond refinancing talks, to September 25. That deadline is now likely to be extended further.