Independent Newspapers is the first Irish corporate to take advantage of the euro-denominated bond market, by issuing a €200 million (£157.5 million) 10-year bond.

The bond, issued by Independent News and Media (Finance) Ltd, a wholly-owned subsidiary of Independent Newspapers, has a coupon of 5.75 per cent and will be redeemed in full in May 2009. It was issued with a yield of around 5.8 per cent and was exclusively managed by Davy Stockbrokers.