Ireland’s eircom to sell €200 million tap of 4½% notes due 2022 on Monday; talk is 101.25-101.5

By Paul A. Harris

Portland, Ore., July 25 – Dublin-based telecom company eircom Finance DAC plans to price a €200 million add-on to its 4½% senior secured notes due May 31, 2022 in a quick-to-market Monday transaction, according to market source.

The deal is talked at 101.25 to 101.5 and is expected to price before the London close.

Joint global coordinator and joint bookrunner Deutsche Bank bill and deliver for the Rule 144A and Regulation S offering. Credit Suisse and Goldman Sachs are also joint global coordinators and joint bookrunners.

Barclays, BNP Paribas, DNB, JPMorgan and Morgan Stanley are joint bookrunners.

The notes become callable after May 31, 2018 at 102.25.

Proceeds will be used to repay bank debt.

The original €500 million issue priced at par on June 7, 2016.

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