March 8, 2019 |
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
Jamaica-based telecom earns $600m from private placement of five-year notes