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Sat 05 May 2009INM on cusp of debt reorganisation pact with bondholders
INDEPENDENT NEWS & Media (INM) is on the cusp of a “standstill” pact with its bondholders, which would give the company breathing space until late June to reorganise its debt.
Unable to repay a €200 million bond that falls due on Monday, the company is racing against time this weekend to secure an extension on the maturity of that debt in exchange for a small cash repayment and enhanced credit terms.
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