Investor Relations
News Detail

18th Nov 2004

INM announces tender offer for the early redemption of STG£75M Bond

INM announces tender offer for the early redemption of the STG£75.0 Million 9.25% Guaranteed Bonds

Independent News & Media PLC (ticker: INWS.I; INWS.L) today announced a Tender Offer, by its wholly owned subsidiary Independent Newspapers Finance PLC, for the early redemption of the Stg£75.0 million 9.25% Guaranteed Bonds due 2005. The Tender Offer is being made as part of INM’s commitment to active management of its balance sheet and to assist it in meeting its objective to reduce current debt liabilities and net interest expense.

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"INM has a very clear, compelling and coherent strategy for growth, with a very resolute and sturdy version of our newspaper brands' place within the fast-changing media matrix."

Gavin O'Reilly, Group Chief Executive Officer