Reuters, 14 Sep 2011(Reuters) - Lenders to struggling Irish telecoms group eircom have agreed to waive a breach in its debt covenants, averting a possible default on 3.8 billion euros ($5.2 billion) debt, a source with direct knowledge of the vote said on Wednesday.
The waiver gives lenders and eircom shareholders, including Temasek unit Singapore Technologies Telemedia (STT), time for talks which could lead to a debt restructuring. Full story
