The rumoured sale of Irish telecoms company Eircom could prompt the refinancing of one of Europe’s largest corporates to have undergone a leveraged buyout. BCM, which is managed by Babcock & Brown Capital Management, holds a majority stake (57.1%) in the Irish telecommunications firm. Babcock & Brown itself only has an 8% holding in BCM. Any change in ownership at Eircom could result in the refinancing of Eircom’s debt – a $4.6 billion package that was itself refinanced just after the credit crunch seized the debt markets in September 2007.
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