Independent News & Media, the publisher of The Independent and The Independent on Sunday, last night struck a deal with bondholders that will see creditors swap €123m (£110m) worth of debt for a 46 per cent equity stake in the company.
It is the first stage of a restructuring plan which says the paper
comes after months of negotiations and several so-called standstill agreements, which deferred debt repayments.
The plan should be completed by the end of the year
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