Eircom gets €3.65 billion credit facility

By Sara Rosenberg

New York, Aug. 11 - Eircom Group plc closed on a new €3.65 billion senior secured credit facility, according to a news release.

The facility consists of a €650 million seven-year term loan A at Euribor plus 200 basis points, a €1.25 billion eight-year term loan B at Euribor plus 237.5 bps, a €1.25 billion nine-year term loan C at Euribor plus 275 bps, a €350 million 91/2-year second-lien term loan at Euribor plus 425 bps and a €150 million seven-year revolver at Euribor plus 200 bps.

Proceeds were used to help finance the acquisition of Eircom by Babcock & Brown.

Eircom is a Dublin, Ireland-based operator of fixed-line and mobile telephone networks and provider of internet service.

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