Digicel calls off swap for 2023 notes

Digicel calls off swap for 2023 notes

Debt Bonds Fixed Income Capital Markets Telecoms Caribbean Jamaica United States

Caribbean telecommunications company Digicel has called off a proposed bond swap for 2023 notes, although it agreed to exchange 99.5% of 2021 notes for new bonds that mature between 2024 and 2026. Digicel will distribute $1.2 billion in new notes to replace $1.29 billion in 2021s, but it is stuck with $925 million in outstanding 2023 notes. It had offered to exchange the 2023s for $879 million in 8% 2027 bonds as part of a larger restructuring, the company said in a statement on Thursday. It add

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