Digicel Limited Completes US$1 Billion Corporate Bond Offering

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Mar 05, 2013, 06:15 ET

KINGSTON, Jamaica, March 5, 2013 /PRNewswire/ -- Digicel Limited ("DL") today announced it has successfully completed a US$1 billion corporate bond offering. The bonds carry a coupon of 6.00%.

Digicel Limited is a subsidiary of Digicel Group Limited which is a leading global telecoms operator serving customers in the Caribbean, Central America and Pacific. Digicel Limited comprises the 24 markets of the Caribbean and El Salvador.

Digicel Limited will use the proceeds of this offering to refinance all of its 12% Senior Notes due 2014 and for general corporate purposes which could include capital expenditures, acquisitions, debt repayment or dividends to Digicel Group Limited.

Blake Haider, Director with Citi, commented: "Citi is proud to support Digicel in its latest financing effort. With the strong investor interest, Digicel was able to issue US$1 billion at one of the lowest coupons ever for a single B-rated corporate issuer in the Latin and Caribbean debt markets."

Colm Delves, Digicel Group Chief Executive, 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."

Citi, JP Morgan, Credit Suisse, Barclays, Deutsche Bank and Davy's acted as initial purchasers of the bond offering.

ABOUT DIGICEL GROUP LIMITED

Digicel is a leading global telecoms operator serving customers in the Caribbean, Central America and the Pacific. Digicel has over 13 million customers and 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 title sponsor of the Digicel Caribbean Cup. 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 Jamaica, Haiti, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programmes.

Digicel is incorporated in Bermuda and its markets comprise: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Nauru, Panama, Papua New Guinea, Samoa, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks & Caicos and Vanuatu. Digicel also has coverage in St. Martin and St. Barts in the Caribbean.