By Paul A. Harris
Portland, Ore., Oct. 15 – eircom Finance DAC priced a €350 million issue of five-year senior secured notes (B1) at par to yield 1¾% on Tuesday, according to a market source.
Original yield talk was in the 2% area, the source added.
Goldman Sachs led the deal.
The Dublin-based telecom plans to use the proceeds to partially repay the eircom Finco Sarl €1.8 billion term loan due in May 2026.
| Issuer: | eicrom Finance DAC
|
| Amount: | €350 million
|
| Tenor: | Five years
|
| Securities: | Senior secured notes
|
| Lead: | Goldman Sachs
|
| Coupon: | 1¾%
|
| Price: | Par
|
| Yield: | 1¾%
|
| Call: | Two years
|
| Trade date: | Oct. 15
|
| Rating: | Moody's: B1
|
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