Jamaican telco Digicel Group completed a US$775m bond issue earlier this week, whose proceeds will be used to acquire Digicel’s sister company Digicel Pacific (DPL).
Financing for the bond issue was raised from eight-year notes, priced at 10.5%, and the…
Jamaican telco Digicel Group completed a US$775m bond issue earlier this week, whose proceeds will be used to acquire Digicel’s sister company Digicel Pacific (DPL).
Financing for the bond issue was raised from eight-year notes, priced at 10.5%, and the funds will allow Digicel to take a 51% stake in DPL, with full acquisition set to take place at an undefined later stage. The acquisition of the stake is slated to take place next month.
The sale will value DPL at US$825m. DPL operates across six Pacific countries, with 1.63 million subscribers at the end of 2009.
The Digicel Group is owned by Irish businessman Dennis O’Brien. It operates across the Caribbean, the Pacific and Central America.
