Digicel Adds To 2017 Bonds

Digicel Adds To 2017 Bonds

Caribbean

Digicel has raised $300m in new 8.25% of 2017 bonds, reopening an issue originally sold last year. The Caribbean telecom reopened the B1 notes at 102.75 to yield 7.544%, in line with 102.50 area guidance. The bond had been trading around 104 prior to announcement, according to an investor. “Deal pricing represented a 56bp concession; thus, we were not surprised that the bonds performed well on the break,” says Barclays in a research note. Digicel chose to tap the markets at a time when many lowe

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