Digicel Group Limited Announces Private Placement Of Senior Notes

KINGSTON, Jamaica, Sept. 5, 2012 /PRNewswire/ -- Digicel Group Limited ("Digicel") today announced its intention to launch a private placement of US$700 million of senior notes due 2020. Digicel Group Limited is a limited liability exempted company organized under the laws of Bermuda and owned by Mr. Denis O'Brien.

Digicel intends to use the net proceeds from this offering to (i) repurchase any and all of its 9 1/8% / 9 7/8% senior toggle notes due 2015 (the "Existing Senior Toggle Notes") in a concurrent tender offer, (ii) repurchase up to $245 million of its 8 7/8% senior notes due 2015 (the "Existing Senior Notes") in the tender offer, (iii) pay any related fees and expenses, including applicable tender premiums and accrued interest on the Existing Senior Toggle Notes and Existing Senior Notes and (iv) redeem the Existing Senior Toggle Notes, if any, that remain outstanding after the completion of the tender offer. Any remaining net proceeds are intended to be used for the redemption of a portion of its Existing Senior Notes remaining after the completion of the tender offer.

The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

SOURCE Digicel Group Limited

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