Jamaica-based Digicel has upsized a new debt issue to offer US$1bn of senior notes with an eight-year maturity.
The notes carry 6% interest and priced at par. Citi, JP Morgan, Credit Suisse, Barclays, Deutsche Bank, and Davy are acting as bookrunners…
Jamaica-based Digicel has upsized a new debt issue to offer US$1bn of senior notes with an eight-year maturity.
The notes carry 6% interest and priced at par. Citi, JP Morgan, Credit Suisse, Barclays, Deutsche Bank, and Davy are acting as bookrunners according to market reports.
The Denis O’Brien-owned operator will use the proceeds of the issue to repurchase and/or redeem Digicel’s 12% senior notes due 2014.
The offering was originally for US$700m, but the figure had been increased to US$1bn.
In September last year, the Caribbean operator had upsized another high-yield offering, from US$700m to US$1.5bn. Five of the six banks reported to be working on this latest offering were bookrunners on the September issuance, with Barclays coming on board for the current transaction.
Irish-owned, Bermuda-incorporated and Jamaica-headquartered, Digicel offers wireless services in the Caribbean and parts of Oceania and Central America.
