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Independent News buys £44.72 million 9¼% bonds in tender
New York, Dec. 8 - Independent News & Media plc said it will buy all £44.72 million of its 9¼% guaranteed bonds due 2005 tendered in its offer to purchase the securities for cash.
The company will pay 102.35% of par plus accrued interest up to but excluding the settlement date of Dec. 15.
Following the tender, there will be £30.28 million of the bonds outstanding out of the original £75 million.
The tender was conducted through the company's Independent Newspapers Finance plc subsidiary.
Independent News & Media is a Dublin, Ireland, newspaper and magazine publisher and advertising operator.
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