Eircom may breach terms of its loans

EIRCOM said it sees no signs of growth or increased spending by customers in the medium term.

The company also said it may breach the terms of its loans as it reported a 5.6% fall in quarterly revenues. The company’s adjusted earnings before tax and interest were flat at €168 million in the last quarter.

Eircom, which has to service €3.15 billion of debt used to fund its buyout by Temasek Holdings Pte, is assessing its options, according to Eircom’s chief financial officer Peter Cross.