Eircom to sell EUR310m of bonds to repurchase debt

1 May 2013

Ireland’s incumbent fixed line operator Eircom has announced it is looking to place EUR310 million (USD406 million) worth of senior secured notes, due in 2020, to help repurchase debts to lenders such as the Blackstone Group. SiliconRepublic notes that this is the telco’s first bond issue since it had almost EUR2.3 billion of debt wiped off its balance sheet last year. The company is looking to turn its fortunes around and is currently undertaking an ambitious programme to launch broadband via fibre-to-the-cabinet (FTTC), which will pass one million Irish homes by 31 December 2014, and will see end user access speeds increase to 50Mbps-70Mbps, using VDSL in the final loop. Further, Eircom is also planning to introduce quad-play services in 2013 and will begin trialling TV services in June with a view to a September launch, as well as aiming to launch 4G mobile in 2H13, its CEO Herb Hribar said.

Ireland,eir (formerly Eircom),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share