€500m Eircom bond issue ‘on cards’

It is believed that Eircom plans to issue a high-yield bond at the beginning of March. The sale is being handled by the investment bank, Goldman Sachs.

A source said that the company will look to raise €500m and that some of the proceeds of the bond will form a dividend for shareholders.

Eircom declined to comment or give any details of the sale. “It is not our policy to comment on such matters,” said a company spokesperson.