Ireland's eircom to sell €310 million seven-year secured notes

By Paul A. Harris

Portland, Ore., April 30 - Ireland's eircom Finance Ltd. plans to conduct a full roadshow for its €310 million offering of seven-year senior secured notes, according to a market source.

The roadshow, which is being led by joint global coordinators JPMorgan and Goldman Sachs, is expected to run until May 9.

Initial guidance on the deal is 9½% to 10%.

Deutsche Bank, BNP Paribas, BofA Merrill Lynch and Morgan Stanley are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

The Dublin-based telecom plans to use the proceeds to repurchase debt under its existing senior facilities agreement in accordance with a solicitation process.

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