Business Irish

Tuesday 17 October 2017

INM confident of restructuring lending facilities

Ailish O'Hora

Ailish O'Hora

INDEPENDENT News & Media has said it is confident of an agreement with its banks in relation to a restructuring and refinancing of its lending facilities.

While terms  have not been finalised, the company is in ongoing talks with its lenders over the restructuring of €420m in debt.

“In pursuing these discussions and the proposed disposal of INM South Africa, details of which were announced last month, INM has sought to enable achievement of deleveraging of the INM Group while balancing the respective interests of all stakeholders (lenders, employees and shareholders) and the need for consensus in the context of implementation,” the company said in a statement today.

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