Irish-owned regional operator Digicel announced yesterday that it has completed its US$300m corporate bond offering.
The offering was a reopening of the 8.25% senior notes due in 2017, which was first issued in December 2009. The bonds were priced at…
Irish-owned regional operator Digicel announced yesterday that it has completed its US$300m corporate bond offering.
The offering was a reopening of the 8.25% senior notes due in 2017, which was first issued in December 2009. The bonds were priced at 102.75 to yield 7.54%.
Credit Suisse, Citi, JP Morgan, Deutsche Bank, Barclays Capital and Davy acted as initial purchasers on the bond offering, a Digicel spokesperson told TelecomFinance.
In a statement, Digicel said that the proceeds would be used for general corporate purposes, including capital expenditure and debt service.
Digicel Group’s CEO, Colm Delves, said that some of the funds would go to support the planned expansion of Digicel’s business in Haiti. He said that this part of the business had delivered strong growth in the six months up to the end of September. This was despite the catastrophic earthquake in Haiti in January.
Delves said: “I am very pleased with the positive response to this transaction, which was more than two times over-subscribed with participation from over 75 well-established high yield and emerging market accounts.”
