Banks launch facilities for Eircom

BANKS have launched syndication of the senior facilities backing the buyout of Eircom by BCM.

BCM is a group combining Australian investment firm Babcock and Brown Capital Ltd and the Eircom Employee Share Ownership Trust (ESOT), the arrangers said in a statement.

Barclays Capital, Credit Suisse, Deutsche Bank, Dresdner Kleinwort and JP Morgan are arranging the financing.