IN&M extends debt ‘standstill’

Independent News & Media has reached an agreement with creditors to extend a “standstill” agreement, giving the media organisation more time to negotiate a restructuring of its debt. The company said a deal had been struck with bondholders, allowing more time for talks on how to restructure a €200m (£170m) that was due for repayment in May.

The “standstill” agreement was due to expire tomorrow, but was extended after the bondholders rejected the company’s latest offer.