The Irish Times, 2 Mar 2011
Eircom has net senior debt of €2.7 billion. It also owes €350 million to floating rate noteholders and has €630 million in PIK notes, which are currently trading at a substantial discount. It is scheduled to make a repayment of €24 million in June this year and €296 million by June 2014. The rest of the debt must be repaid over the following three years.
Eircom said it would hold talks with its shareholders – Singapore-based STT and the employee Esot – about injecting new equity into the business. Full story