Digicel Limited Announces Early Tender Results of its Tender Offer and Consent Solicitation for Any and All of its 7.000% Senior Notes Due 2020

KINGSTON, Jamaica, May 22, 2017 /PRNewswire/ --

Digicel Limited ("Digicel", the "Company" or "we") today announced that $203,330,000 aggregate principal amount, or 81.33%, of its outstanding 7.000% Senior Notes due 2020 (the "Notes") were validly tendered and not withdrawn by 5:00 p.m., New York City time, on May 19, 2017 (the "Tendered Notes"). Subject to the terms of the tender offer, the Company may accept for purchase the Tendered Notes at any time prior to the expiration date. The Company will provide notice of any such settlement to holders of the Notes.

In addition, the Company has received consents from holders of 81.33% of the Notes as of 5:00 p.m., New York City time, on May 19, 2017 (the "Consent Date"). The consents are sufficient to effect all of the proposed amendments to the indenture governing the Notes as set forth in Digicel's Offer to Purchase and Consent Solicitation Statement dated May 8, 2017 (the "Statement") and the related Letter of Transmittal and Consent, pursuant to which the tender offer and the consent solicitation are being made. The proposed amendments eliminate substantially all of the restrictive covenants and certain events of default and reduce the minimum notice period required for optional redemptions of the Notes to two business days on the terms and subject to the conditions set forth in the Statement. Digicel has executed a supplemental indenture effecting the proposed amendments to the indenture. However, the proposed amendments will not become operative unless and until the Company has paid the consent payment to all holders that validly tendered (and did not validly revoke) consents on or prior to the Consent Date.

Pursuant to the terms of the tender offer, Notes not tendered in the tender offer will remain outstanding.  However, the Company currently intends to redeem all remaining Notes after settlement for the Tendered Notes. This press release does not constitute a notice of redemption under the indenture governing the Notes.

The Company has retained Citigroup Global Markets Inc. to serve as the dealer manager and solicitation agent for the tender offer and consent solicitation. Questions regarding the tender offer and consent solicitation may be directed to Citigroup Global Markets Inc. at Attn: Liability Management Group, (800) 558-3745 (toll-free), (212) 723-6106 (collect). Requests for documents may be directed to Global Bondholder Services Corporation, the information agent for the tender offer and consent, at (212) 430-3774 (collect) or at (866) 470-4300 (toll-free).

Forward-Looking Statements 

This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or sell the Notes or any other securities or a solicitation of consent with respect to 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 and consent solicitation is being made solely pursuant to the Statement and the related letter of transmittal, which set forth the complete terms of the tender offer and consent solicitation.

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 

We are a total communications and entertainment provider with operations in the Caribbean, Central America and Asia Pacific. We launched services in Jamaica, our first market, in 2001 and became the market leader within 15 months of launch. We currently operate wireless services in 32 markets.

After 16 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 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.

For further information please contact:
Antonia Graham
Group Head of PR
+1-876-564-1708

SOURCE Digicel Limited