Digicel Limited Commences Tender Offer For Any And All Of Its 8.25% Senior Notes Due 2017

HAMILTON, Bermuda, Feb. 24, 2015 /PRNewswire/ -- Digicel Limited ("Digicel" or the "Company") today announced that it has commenced a cash tender offer (the "Tender Offer") for any and all of its outstanding 8.25% senior notes due 2017 (the "Notes").

The Tender Offer is scheduled to expire at 5 p.m., New York City time, March 2, 2015, unless extended or earlier terminated (such time, as may be extended, the "Expiration Time"). Holders who validly tender the Notes prior to the Expiration Time will be eligible to receive $1,026.5 for each $1,000 principal amount of Notes, plus any accrued and unpaid interest up to, but not including, the settlement date.  

Tendered Notes may be withdrawn at any time prior to the Expiration Time. Completion of the Tender Offer is subject to certain market and other conditions, including the consummation of the concurrently announced financing transaction. Settlement of the Tender Offer will occur promptly after the Expiration Time, unless terminated.

The Company intends to deliver a notice of redemption in order to redeem any Notes outstanding following the consummation of the Tender Offer that are not purchased pursuant to the Tender Offer.

The complete terms and conditions of the Tender Offer are described in the Offer to Purchase dated as of February 24, 2015, the related Letter of Transmittal and the Notice of Guaranteed Delivery, copies of which may be obtained from Global Bondholder Services Corporation, the tender and information agent for the Tender Offer, at http://www.gbsc-usa.com/Digicel/, or by telephone at (212) 430-3774 (collect) or at (866) 470-3800 (toll-free).

The Company has retained Citigroup Global Markets Inc. to serve as the dealer manager for the Tender Offer. Questions regarding the tender offer may be directed to Citigroup Global Markets Inc. at Attn: Liability Management Group, (800) 558-3745 (toll-free), (212) 723-6106 (collect).

None of the Company, the dealer manager or the tender and information agent make any recommendations as to whether holders should tender their Notes pursuant to the Tender Offer, and no one has been authorized by any of them to make such recommendations.  Holders must make their own decisions as to whether to tender their Notes, and, if so, the principal amount of Notes to tender.

This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase or sell the Notes or any other securities, nor shall there be any purchase of our Notes in any state or jurisdiction in which such offer, solicitation or purchase would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The tender offer is being made solely pursuant to the Offer to Purchase dated as of February 24, 2015, the related Letter of Transmittal and the Notice of Guaranteed Delivery, which set forth the complete terms of the tender offer.  Any offers of concurrently offered securities will be made only by means of a private offering memorandum.

Forward Looking Statements

This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.

About Digicel

Digicel Group is a total communications and entertainment provider with operations in 33 markets in the Caribbean, Central America and Asia Pacific. After 13 years of operation, total investment to date stands at over US$5 billion worldwide. The company is renowned for delivering best value, best service and best network.

Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams, including the Special Olympics teams throughout these regions. Digicel sponsors the West Indies cricket team and is also the presenting partner of the Caribbean Premier League. In the Pacific, Digicel is the proud sponsor of several national rugby teams and also sponsors the Vanuatu cricket team.

Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Haiti, Jamaica, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programmes.

SOURCE Digicel Limited