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INM extends standstill on debt for a third time as talks continue
INDEPENDENT News & Media (INM) is set to announce a third standstill agreement with its creditors as talks continue regarding the debt-laden firm’s financial restructuring.
INM, which owns The Independent newspaper, is still locked in talks with banks and investors over the refinancing of a €200m (£178m) bond.
Sources close to the company said “constructive conversations” were taking place, but that an agreement had yet to be reached.
The group agreed its first standstill period in May, when the bond was due to mature, until 26 June. But it was forced to extend the agreement until this Friday.
It is not known how long this third standstill will be for, but all parties are known to be eager to resolve the matter quickly.