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

By Paul A. Harris

Portland, Ore., May 3 - Irish telecommunications services provider eircom plans to sell €310 million of seven-year senior secured notes (/B/), according to a market source.

A European roadshow is underway through May 9, with a roadshow to follow in the United States.

Goldman Sachs and JPMorgan are the joint global coordinators and joint physical bookrunners. Deutsche Bank is also a joint global coordinator as well as a joint bookrunner.

BNP Paribas, BofA Merrill Lynch and Morgan Stanley are also joint bookrunners.

The notes come with three years of call protection.

The Dublin-based company plans to use the proceeds to repay bank debt.

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