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Digicel gives bondholders more time

Digicel gives bondholders more time

May 19, 2020 | Jo Bruni
Jamaica-based telecom extends the deadline until May 20 for creditors to accept a proposed debt restructuring

Debt Bonds Fixed Income Capital Markets Telecoms Caribbean Jamaica United States

Caribbean telecommunications company Digicel said on Monday that it extended the deadline for bondholders to accept a proposed debt restructuring until May 20. The Jamaica-based company previously moved the deadline to May 15 from April 28, looking to erase around $1.6 billion out of $7 billion in debt. As of Monday, bondholders had tendered $1.18 billion in 6% 2021 notes, or roughly 90.4% of the outstanding principal, and $66 million in 6.75% 2023 notes, or approximately 7.17%, in a proposed bo

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