Eir to raise €850m through refinancing

Eir to raise €850m through refinancing

A note from ratings agency Standard & Poor’s indicated that Eir would use some of the funds to pay €300m of dividends to shareholders

Telecoms group Eir has announced plans to raise a total of €850m through an issue of new bonds and a new debt facility.

The group said its subsidiary Eircom Finance would issue the new bonds, due to mature in 2026, while another subsidiary, Eircom Finco, would introduce a new facility under an existing agreement.

The money raised will be used to pay back €700m in borrowings due in 2022 and to add cash to Eir’s balance...

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