June 22, 2020
Caribbean telecommunications company Digicel said it expects to carry out a bond swap during the week of June 21 after it received approval from courts in the United States and Bermuda.
Digicel announced its restructuring plans in early April, looking to lower debt by roughly $1.6 billion to $5.4 billion, cut interest payments to $125 million per year and extend maturities.
The Jamaica-based company previously convinced holders of 99.5% of its 2021 bonds to accept $1.19 billion in new notes that
Jamaica-based telecom intends to issue $1.2 bln in new notes to replace 2021 bonds