Results 5,101-5,120 of 26,179 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: They receive a certain rate of return.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: An interest payment from NBI itself.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: In essence what is happening there is that shares, or the loan notes here, which are now there are commitments to NBI, are being sold to another third party.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: It is the commitment.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: The question I am more interested in is the security of the funding model for the roll-out of national broadband. The revenue is going to be based on the number of connections.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: The subsidy is agreed with the Government and the Department of Environment, Climate and Communications.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: On the equity element, what are the commitments under equity? Is that in the public domain?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: That is €223 million.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: To date, €120 million of the €223 million has been invested.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: How much of that is coming from David McCourt himself and his investment?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: What percentage of NBI do they own?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: The balance then is 80%.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: That 80% is what is currently the subject of discussions in terms of it being sold by Oak Hill Advisors and Twin Point Capital, which are basically funds.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: They are selling their 80% stake. Is that different in profile from the 20% held by the McCourts?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: The question I am asking really is in respect of the commitments in terms of funding that are currently in place with Twin Point Capital and Oak Hill Advisors. In terms of the taxpayer, does NBI have that guarantee or security of its funding model to enable it to do the roll-out if they sell to another third party?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: In terms of Oak Hill Advisors and Twin Point Capital, have they to date given any funding from the €120 million?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: It is the same with the McCourts, they would have provided funding in proportion with their equity.

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: Has any communication gone to the Department of the Environment, Climate and Communications or the Minister, Deputy Eamon Ryan, as yet?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: When is that anticipated to come through?

Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (29 Jun 2022)

Kieran O'Donnell: I thank Mr. Hendrick. I want to get a full understanding of how it is done. At the moment, what percentage of the roll-out in terms of the poles, cable and ducting is carried out by Eir?