Monday 18 February 2019

Eircom in write-off

TELECOMS group Eircom may have to ask lenders to write off more than €1bn of debt.

It's understood that the company, which has €3.75bn of debt after five changes in ownership since 1999, will seek haircuts on payment-in-kind securities and floating-rate notes.

Parent company ERC Ireland Finance Ltd was this month downgraded.

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