eircom launches EUR1 billion bond

15 Jul 2003

Former monopoly eircom announced yesterday that it has launched a ten-year EUR1 billion bond issue as part of plans to recapitalise the company. The issue will be priced in the week commencing 28 July and the telco hopes to have completed the process by early August. It also plans to refinance its existing bank debt and cut its workforce by 1,000 employees by the end of 2004.