Investor Relations
News Detail

4th Dec 2003

INM issue of Guaranteed Subordinated Notes

Independent News & Media PLC (“INM”) announces that it is raising €125 million through the issue of 8% subordinated notes (due in 2008) by Independent News & Media Finance (Ireland) plc.

The notes are guaranteed by INM on a subordinated basis. The issue, which was over-subscribed, enables INM to repay part of the Group’s senior indebtedness and may be used for general corporate purposes. The transaction is scheduled to close on December 10, 2003, subject to customary conditions.

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“Independent News & Media has always understood that beyond being a very successful company in the financial sense, it has broader social responsibilities to all those communities where it operates. This is demonstrated by over 200 projects and charities which the company has underwritten and supported and can be seen from the work that INM has done in education, particularly the work they’ve done in health education in South Africa in relation to HIV and AIDS.”

Baroness Margaret Jay, Non-Executive Director
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