Digicel sells bonds

Digicel sells bonds

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Telecoms Jamaica Caribbean

Digicel said it has raised $600m from a private placement to pay off outstanding loans. The five-year notes priced at 8.75%, the Jamaica-based telecommunications company said in a press release. Digicel previously said it planned to sell $550m in bonds. The company will use the money to pay off a $300m term loan and a $100m revolving credit facility. Any remaining funds will be used for general corporate purposes, Digicel said. Digicel signed the term loan and renewed the revolver in May 2017

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