Independent News & Media is in talks over a further extension to a ‘standstill’ deal with its bondholders over its failure to repay a €200m (£172m) bond due in May, according to reports.

Proposals for a new extension will be discussed today between the company, its banks and bondholders, the Irish Times has reported.

INM has managed to cut a series of standstill agreements since the original repayment date of May 18 that saw the deadline pushed back into June, then July.