January 16, 2019 |
Digicel has completed a bond exchange, swapping $2.92bn in outstanding notes for the same amount in new notes.
The Jamaica-based telecommunications company traded $1.93bn in 8.25% 2020 notes for new 8.25% 2022 notes and swapped $979m in existing 7.125% 2022 notes for new 9.125% 2024 notes.
Digicel first offered to exchange the old notes for new notes in August last year, but it extended the deadline several times to bring more bondholders to the deal.
Investors eventually tendered 97.9% of the 2
Fitch lifts the Caribbean telecom to CCC- after the restructuring