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Digicel Holdings (Bermuda) Limited and Digicel International Finance Limited Announce Upsize and Pricing of Private Placement of Senior Secured Notes
[March 07, 2019]

Digicel Holdings (Bermuda) Limited and Digicel International Finance Limited Announce Upsize and Pricing of Private Placement of Senior Secured Notes

KINGSTON, Jamaica, March 7, 2019 /PRNewswire/ -- Digicel Holdings (Bermuda) Limited ("Holdings") and Digicel International Finance Limited ("DIFL" and, together with Holdings, the "Issuers") today announced that they have priced their private placement of US$600 million aggregate principal amount of 8.750% senior secured notes due 2024 (the "Notes"). This represents an increase of US$50 million in principal amount over the previously announced proposed offering of US$550 million. Holdings, a subsidiary of Digicel Limited, is incorporated under the laws of Bermuda. DIFL, Holdings' only direct subsidiary, is incorporated under the laws of St. Lucia.

Digicel Logo (PRNewsfoto/Digicel Group Limited)

The Notes will be guaranteed by each of DIFL's subsidiaries that is an obligor or guarantor under DIFL's secured credit facility and will be secured on a first priority basis by liens on all the assets that secure DIFL's secured credit facility, which liens will be equal in priority to the liens securing DIFL's secured credit facility.

Holdings and DIFL intend to use the net proceeds from this offering to repay any funds drawn under DIFL's revolving credit facility (without erminating commitments) and Term Loan A facility and pay related fees and expenses. Any remaining net proceeds will be used for general corporate purposes (which may include distributions to the Issuers' parents).

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.

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 leading integrated telecommunications and entertainment provider with operations in 31 markets in the Caribbean, Central America and Asia Pacific. After 17 years of operation, total investment to date stands at over US$6 billion worldwide.

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.

Antonia Graham
Head of PR
T: +1-876-564-1708 (Jamaica)


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SOURCE Digicel Group Limited

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