Wednesday 26 October 2016

Eir lenders vote in favour to senior loan amendments

Published 11/08/2016 | 08:06


An overwhelming majority of Eir's lenders under its existing senior loan facilities have voted in favour of proposed amendments to the facilities.

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As part of the amendments Eir will look to increase certain operational flexibility by bringing the terms of its senior loan facilities in line with market precedents.

The company announced this morning 97pc of the lenders agreed to the amendments, most of which are due to take effect today.

Eir chief financial officer Huib Costermans said the company was pleased by the outcome of the process.

"Our investors have overwhelmingly voted in favour of our request for greater operational flexibility under our Senior Loan Facilities and we now have a document that reflects comparable market precedents. This is a clear reflection of their support for our business, as well as the significant progress madeby the Eir Group.”

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