eir announces the successful pricing of €750 million of senior secured notes and a new €400 million term loan facility
Dublin, 26 April 2019 - eir announced today the successful pricing of the offering by its subsidiary, eircom Finance DAC, of €750 million senior secured notes due 2026 and by its subsidiary, Eircom Finco S.à r.l., of a new €400 million term loan facility under its existing senior facilities agreement. Due to significant demand, the aggregate principal amount of the offering of the notes and the new facility was increased to €1.15 billion from the previously announced amount of €850 million.
The €750 million senior secured notes will have a term of 7 years (until 2026) and will bear an interest rate of 3.5%.
The proceeds of the offering of the notes and the drawing under the new facility will be used (i) to redeem eircom Finance DAC’s €700 million in principal amount of senior secured notes due 2022, (ii) to prepay €200 million of our existing €1.6 billion term loan facility, (iii) to make a €100 million distribution to our shareholders after May 31, 2019, (iv) to put cash on balance sheet for future use in the business and (v) to pay fees and expenses in connection with the new financing.
ENDS
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Disclaimers
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA OR IN OR INTO ANY OTHER JURISDICTION OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION IN WHICH SUCH DISTRIBUTION IS UNLAWFUL.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country. The notes are being offered and sold only outside the United States to non-U.S. persons in accordance with Regulation S. No offering of notes will be made in the United States.
MiFID II professionals/ECPs-only / No PRIIPs KID – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
In the United Kingdom, this communication is for distribution only to persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). This communication is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.
This press release may include projections and other “forward-looking” statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of the company about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.
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