McCourt firm loaned €100m to subsidaries tasked with NBP project

The loans are the first indication of financial backing for the behind-schedule rural broadband rollout

27th June, 2021
McCourt firm loaned €100m to subsidaries tasked with NBP project
David McCourt, who spearheaded the winning bid for the lucrative NBP contract, is a director and the chairman of Metallah

A company headed by David McCourt, the US businessman, has provided €100 million in funding to two subsidiaries responsible for delivering the state’s multibillion-euro National Broadband Plan.

Records filed with the Companies Registration Office (CRO) show that Metallah Ltd, established in August 2018 and domiciled in Ireland, advanced loans of €73.4 million and €24.6 million to NBI Infrastructure DAC and NBI Deployment DAC, respectively.

The unsecured loans carry an interest rate of 12 per...

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