eircom Enhances Financial Strategy with €1.15 Billion Offering
Deal News | May 09, 2025 | Paul Hasting
Paul Hastings LLP, an esteemed international law firm, advised a consortium of initial purchasers, which included Deutsche Bank, Goldman Sachs, BNP Paribas, Citigroup, J.P. Morgan, Morgan Stanley, and Société Générale. The advisory focused on eircom Finance DAC's successful issuance of €550 million in senior secured notes with a 5.00% interest rate, which are due in 2031. Additionally, eircom Finco S.a.r.l. launched a new Term Loan B5 facility worth €600 million. As Ireland's leading fixed-line and mobile telecommunications provider, eircom is strengthening its financial maneuverings to support future growth. The Paul Hastings team was led by partners Max Kirchner, Chiraag Patel, and Katja Kaulamo, supported by a team of specialized associates.
Sectors
- Telecommunications
- Financial Services
- Legal Services
Geography
- Ireland – eircom, the main company discussed, operates primarily in Ireland as a leading telecommunications provider.
- Global – The involvement of international financial institutions and the law firm signifies the global span of this transaction.
Industry
- Telecommunications – eircom is involved in telecommunications, being a major provider of fixed-line and mobile services in Ireland.
- Financial Services – The industry is relevant due to the high-yield bond offering and financial advisory involvement from multiple global investment banks.
- Legal Services – Paul Hastings LLP provides legal services and guidance in the structuring and facilitation of financial transactions.
Financials
- €550 million – Aggregate principal amount of 5.00% senior secured notes due 2031 offered by eircom Finance DAC.
- €600 million – Aggregate principal amount of a new Term Loan B5 facility launched by eircom Finco S.a.r.l.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| eircom Finance DAC | Issuing Company | Companies | Responsible for the issuance of senior secured notes in this financial transaction. |
| eircom Finco S.a.r.l. | Issuing Company | Companies | Launched a new Term Loan B5 facility as part of the financial strategy. |
| Paul Hastings LLP | Legal Advisor | Companies | Provided legal guidance and support to the consortium of purchasing entities in this financial transaction. |
| Deutsche Bank Aktiengesellschaft | Lead Initial Purchaser | Companies | Part of the syndicate handling the high-yield bond offering. |
| Goldman Sachs International | Initial Purchaser | Companies | Involved in the syndicate managing the bond offering. |
| BNP Paribas | Initial Purchaser | Companies | Financial institution contributing to the bond syndicate. |
| Citigroup | Initial Purchaser | Companies | Part of the financial consortium managing the bond issuance. |
| J.P. Morgan | Initial Purchaser | Companies | Engaged in the syndicate issuing the high-yield notes. |
| Morgan Stanley | Initial Purchaser | Companies | Contributor to the investment bank syndicate handling the bonds. |
| Société Générale | Initial Purchaser | Companies | One of the banks involved in the syndicate for the bond issuance. |