Jamaica-based operator Digicel has concluded a US$1bn offering of 6% senior notes maturing in 2021.
Digicel is using the proceeds to refinance its 12% senior notes due 2014, and it may also use what it raised for capital expenditure, acquisitions, debt…
Jamaica-based operator Digicel has concluded a US$1bn offering of 6% senior notes maturing in 2021.
Digicel is using the proceeds to refinance its 12% senior notes due 2014, and it may also use what it raised for capital expenditure, acquisitions, debt repayment, and dividends to the group.
The bond was issued by Digicel Limited, a subsidiary of the Digicel group that comprises the operator’s 24 businesses in the Caribbean and El Salvador.
Citigroup, JP Morgan, Credit Suisse, Barclays, Deutsche Bank and Davy’s acted as initial purchasers of the notes.
“With the strong investor interest, Digicel was able to issue US$1bn at one of the lowest coupons ever for a single B-rated corporate issuer in the Latin and Caribbean debt markets,”said Blake Haider, a director at Citi.
The Denis O’Brien-owned operator originally planned to raise US$700m from the bond issue.
Colm Delves, Digicel’s CEO, said: “This transaction has again been extremely well supported by the international financing community and we are very pleased with and appreciative of this support which has enabled us to deliver on our strategic plans.”
The Digicel group offers wireless services in Caribbean, Central American and Pacific, operating in 30 different markets.
