Independent News & Media has proposed a “deeply discounted” rights offering to help it raise cash to repay a €200 million bond.
The publisher of the Irish Independentand Sunday Independentamong other titles, which last month got an extension on the repayment of the bond until June 26th, is in talks with bondholders and banks, it said today.
The deadline may be extended to July 24th, it said.
“While the outcome of these discussions remains uncertain at this time, recent discussions have shown a willingness on the part of the stakeholders to reach a consensual solution,” the company said in a statement.