Sighs of relief at Independent News & Media - it’s announced a six-week extension on a €200 million (£177.5 million) bond which was due for re-payment on Monday. As part of a “standstill period” until June 26, the company has also negotiated an extra €15 million (£13.3 million) in working capital from its lending banks and, tellingly, the company says this sum will be repaid “from specified asset disposals”. Whether those disposals will be part of already announced plans to sell €100 million (£88.7 million) of loss-making businesses from the global INM empire or new sell-offs is unclear. The reprieve dispels—for the time being—the very real and disastrous possibility of INM breaching its banking covenants, which the company admitted could happen if the bond went unpaid. Release.

Another publisher looking to ease its debt problems with sell-offs is Lloyds List publisher Informa, which, according to the Mail On Sunday, is putting its software management division Robbins-Gioia up for sale for £70 million. As of March this year the company had debts of £1.34 billion and Informa has since launched a rights issue and left the UK tax system in a bid to cut debts by £400 million by the end of the year. MoS says that Robbins-Gioia has already attracted interest from potential buyers and that Informa will update the market on the sale’s progress on May 27. Informa had not returned our call on the matter this morning though the company had declined to comment when asked by Reuters.com.

• Indie Publisher To Sell Some Loss-Making Businesses
• Earnings: INM Risks Debt Breach, Indie Income Sliding
• Earnings: Informa Launches £242 Million Rights Issue; Leaves UK Tax System