INM near agreement on refinancing deal

Dublin: Independent News & Media (INM) is reportedly close to finally reaching agreement regarding the refinancing of its outstanding €200 million bond, which is six months overdue and has gone through three deadline extensions, with a fourth pending.

The deal with lenders, according to weekend reports, will see bondholders take up to a 46% equity stake in INM in a debt-for-equity swap.

Next Friday is the latest deadline for the refinancing agreement of the bond.