nik.sala
Money Never Sleeps
Jyske su Eircom
Eircom’s second lien lenders are reportedly willing to write down 71% of their debt (EUR 350m in total) sources told Bloomberg. The price is a 4%-5% stake in Eircom. The original proposal only included a write-down of 29%. According to the original proposal, the first lien lenders should not write down anything but should extend the maturity of the loans to 2017. Other lenders and shareholders must write off 100%.
The parties involved have declined to comment on the proposal.
At the same time, Eircom announced yesterday that it has again asked its bankers to extend the current waiver of the bank covenants. Moreover, Eircom announced that it has initiated a process to update its financial expectations in view of the recent developments of the Irish economy.
Updated restructuring proposal from second lien lendersProposta dai bondholders per cancellazione del 71% del debito senior (e il 100% di quello junior)
https://at.brokerjet.com/markets/de...browseSource=162562422d5b87bb738f1b1f174148dd
Quotazione bond TV 2016 = 0,55/4,30
Quotazione bond TV 2017 = 0,03/2,00
Eircom’s second lien lenders are reportedly willing to write down 71% of their debt (EUR 350m in total) sources told Bloomberg. The price is a 4%-5% stake in Eircom. The original proposal only included a write-down of 29%. According to the original proposal, the first lien lenders should not write down anything but should extend the maturity of the loans to 2017. Other lenders and shareholders must write off 100%.
The parties involved have declined to comment on the proposal.
At the same time, Eircom announced yesterday that it has again asked its bankers to extend the current waiver of the bank covenants. Moreover, Eircom announced that it has initiated a process to update its financial expectations in view of the recent developments of the Irish economy.
