Digicel gets temporary reprieve from creditors

Digicel gets temporary reprieve from creditors

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

Jamaica-based mobile phone company Digicel said its creditors granted a 30-day grace period for a $925 million bond payment that was due on March 1. The grace period can be extended for 90 days if the company reaches a structuring agreement with a simple majority of creditors, Digicel said in a press release on Tuesday, adding that bondholders with 88% of its 6.75% 2023 notes agreed to the request. Deutsche Bank assisted Digicel in talks with creditors, and New York-based Epiq Corporate Restruct

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