Eircom seeks to extend loans

Eircom is looking to change the terms of its existing lending agreements, saying that improving its debt maturity profile is the next step in securing the “sustainable and flexible long-term capital structure” of the business.

The company is hoping to agree with lenders a two-year repayment extension, from September 2017 to the same month in 2019, on €2bn worth of its senior loans.

Yesterday, the former State-owned telecommunications company reported first-half revenues of €657m for the six months to the end of December; a drop of 7% on the same period the previous year.