Digicel completes $300m bond sale

| 08/12/2010

(CNS): Digicel Limited has completed a US$300 million corporate bond offering according to a release on Wednesday. The transaction was a reopening of the 8.25% senior notes due 2017 first issued in December 2009. The bonds were priced at 102.75 to yield 7.54%. Digicel Limited which provides services in 24 markets in the Caribbean and Central America had 7.8 million subscribers at September 30, 2010. DL also holds a 44% stake in Digicel Holdings (Central America) Limited which has 1.4 million subscribers in its operations in Honduras and Panama. The use of proceeds of this offering will be for general corporate purposes, including capital expenditure and debt service.

Colm Delves, Digicel Group Chief Executive, said: "The funds raised will in part support the planned expansion of our business in Haiti which delivered strong year on year revenue growth for the six months ended September 30, 2010."

He added that he was very pleased with the positive response to the transaction, which was more than two times over-subscribed with participationfrom over 75 well-established high yield and emerging market accounts.

Credit Suisse, Citi, J.P. Morgan, Deutsche Bank, Barclays Capital and Davy acted as initial purchasers on the bond offering.
 

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