Milbank LLP has provided legal counsel to eir in its recent financial activities, which include the issuance of €550 million in senior secured notes and the repricing of a €600 million term loan. The senior secured notes, carrying an interest rate of 5%, are set to mature in 2029.
The funds generated from this offering will be allocated for several purposes. These include prepaying the existing senior secured term loan facility B4, repaying amounts drawn under the current revolving credit facility, general corporate uses such as partial redemption or repayment of existing 3.50% senior secured notes due in 2026, and covering fees and expenses associated with these transactions.
eir holds a significant position in Ireland’s telecommunications sector as the leading provider of fixed-line services and ranks third among mobile service providers.
The Milbank team that advised on this transaction was led by partners and associates whose names were not disclosed in the release. They received additional support from another partner and associate, also unnamed.
