Oireachtas Joint and Select Committees

Thursday, 10 February 2022

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters

9:30 am

Mr. Peter Hendrick:

Shareholders have invested €120 million of the €175 million. So, that is the contract. However, between the company and the shareholders there is a commitment of €223 million to support our working capital requirements. In terms of equity and shareholder loans, from a corporate finance perspective, they are viewed as being one and the same. That would be very typical of infrastructure projects, including State-funded infrastructure projects in terms of putting in money between equity and shareholder loans.

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