Independent News and Media, the debt-laden publisher of UK newspaper The Independent, and its shareholders are locked in talks with bondholders over plans to swap some of its debt for equity.
The protracted refinancing negotiations come in the wake of the company’s failure to persuade banks and bondholders to agree to extend the maturity date on a €200m (£170m, $280m) note due last month. INM has two weeks to agree a repayment.
