INM announces extension to bond standstill

Independent News & Media today announced the agreement of an extension to the financial standstill period entered into with the principal bondholders over the repayment of a €200m bond.

The financial standstill period will now run until October 30, the company said, allowing further negotiations on the company's financial restructuring.

The company also said that its banks and bondholders had both confirmed their consent to the sale of INM Outdoor on the terms announced on August 28.

The company's board is set to meet later today to review various restructuring proposals, it announced yesterday.