Digicel Trims Debt Expenses

Digicel Trims Debt Expenses


Caribbean telecom Digicel jumped back into the bond market Monday, selling $500m in 2017 NC4 bonds to finance the repurchase of more expensive 2012 debt. The issuer priced at 98.625 with an 8.25% coupon, to yield 8.50%, or UST plus 546bp. The notes Digicel is looking to replace carry a 9.25% coupon. The B1/B minus issue was heard getting about $1bn in demand, with heavy interest from high-yield accounts, as was the case with Digicel’s offerings in March and June. Credit Suisse, Citi and JPMorgan

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