Repaying debt will ease Smurfit pain

Look no further than the Irish Stock Exchange for a simple lesson in symmetry.

17th February, 2007

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.

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