Eircom’s senior lenders have agreed to extend the waiver for the breach of its banking covenants to 31 January 2012, the company announced.
The waiver was set to expire on 15 December 2011, after being pushed back from September in the same…
Eircom’s senior lenders have agreed to extend the waiver for the breach of its banking covenants to 31 January 2012, the company announced.
The waiver was set to expire on 15 December 2011, after being pushed back from September in the same year.
Eircom’s independent directors are currently considering three proposals to restructure €3.75bn (US$5.1bn) of debt.
These proposals have been submitted by shareholder Singapore Technologies Telemedia (STT), which holds a 65% stake, and its first and second lien lenders.
JP Morgan Europe Limited acted as agent and security trustee for the convenient waiver extension.
