EsatBT to buy back bonds

EsatBT has said that it intends to buy back €334.5m worth of bonds it issued in a bid to save up to €21m annually in interest payments.

The bonds it intends to buy back are euro bonds that were due to reach maturity in 2008 and 2009.

The company recently attained its goal of becoming EBITDA positive by the end of this year and saw its CEO, Bill Murphy appointed as head of regions for the operations of parent company, BT.