Business Irish

Sunday 19 May 2019

Eir to raise €850m though bond sale and debt facility

Carolan Lennon: Eir chief executive
Carolan Lennon: Eir chief executive
Ellie Donnelly

Ellie Donnelly

Communications group Eir is to raise €850m through the sale bonds and a new debt facility.

The funds raised will be used to redeem Eircom Finance DAC’s €700m of exiting bonds, add cash to the group’s balance sheet, and to pay fees and expenses in connection with these transactions.

The new bonds will have a maturity date of 2026.

Elsewhere and the group said its trading  in  the three months to March 31 was  “in  line  with  expectations”,  with  high  single  digit earnings before interest, taxation, depreciation, and amortisation growth compared to the same period in 2018.

In April last year French billionaire Xavier Niel completed a €3.5bn acquisition of the former State monopoly.

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