Green light for debt talks at Eircom

Dublin: Struggling telecoms group Eircom has officially recognised the co-ordinating committee representing first lien lenders, it said yesterday, allowing talks on restructuring its debt pile to start.

The company, majority-owned by Temasek unit Singapore Technologies Telemedia, said the committee was comprised of Alcentra, Avoca Capital, Deutsche Bank, GSO Capital Partners, Harbourmaster Capital and SMBC. First lien is the highest priority debt in default cases.