INM extends standstill on debt for a third time as talks continue

INDEPENDENT News &amp; Media (INM) is set to announce a third standstill agreement with its creditors as talks continue regarding the debt-laden firm&rsquo;s financial restructuring.<br /><br />INM, which owns The Independent newspaper, is still locked in talks with banks and investors over the refinancing of a &euro;200m (&pound;178m) bond.<br /><br />Sources close to the company said &ldquo;constructive conversations&rdquo; were taking place, but that an agreement had yet to be reached.<br /><br />The group agreed its first standstill period in May, when the bond was due to mature, until 26 June. But it was forced to extend the agreement until this Friday.<br /><br />It is not known how long this third standstill will be for, but all parties are known to be eager to resolve the matter quickly.