"Cool reception" from lenders for STT's new Eircom proposal - report

A plan by Eircom’s majority shareholder for the company’s main lenders to take a 25 per cent haircut on the €2.4 billion they are owed as received a “cool reception” from the lenders, according to a report.

14th December, 2011

A plan by Eircom’s majority shareholder for the company’s main lenders to take a 25 per cent haircut on the €2.4 billion they are owed as received a “cool reception” from the lenders, according to a report in today’s *Irish Times*.

ST Telemedia (STT) yesterday submitted a plan as part of ongoing efforts to restructure the debt of Eircom that would include it injecting €200 million into the...

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