Repaying debt will ease Smurfit pain
Look no further than the Irish Stock Exchange for a simple lesson in symmetry.
When Eircom quit the stock market last year, its new private equity owners saddled up the company with an additional €1.7billion in debt to help pay for a highly leveraged deal. Next month, the former Jefferson Smurfit Group will reappear on the Dublin and London markets under the Smurfit Kappa tag and its first act will be to pay off almost €1.3 billion of the hefty €5 billion currently owed by the packaging group.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
*New subscribers only
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team