Shareholder loans were ‘contemplated’ for equity investment under NBI contract — Department
The Business Post revealed last week that high-cost loans advanced by investors were being counted towards their promised €175 million equity investment
It was always envisioned that investors in National Broadband Ireland would be permitted to issue expensive debt to make up a significant part of their equity investment in the project, according to the Department of Communications.
The Business Post last week revealed that high-cost loans advanced by investors including David McCourt, the US businessman, to the multi-billion-euro project were being counted towards their promised €175 million upfront equity investment.
Leo Varadkar, the Tánaiste and former ...