[Marketwire] Digicel Limited today announced it has completed a US$160 million corporate bond offering, which is a reopening of the US$350 million of 12% senior notes due 2014 that were sold in March 2009.
A further US$90 million of the existing 2014 bonds held by Denis O'Brien, were also successfully placed as part of the transaction.
The bonds were priced at 99.5% and the offering was two times over-subscribed.
The use of proceeds of the offering will be for general corporate purposes, including debt service and acquisitions, and allows the company to increase its overall liquidity position.
The offering was led by Credit Suisse, with Citi and J.P. Morgan acting as joint book-runners on the deal.
Colm Delves, CEO of Digicel Group Ltd, said: "We are delighted with the support we have received from our investors in this transaction, demonstrating their continuing confidence in Digicel's strong position in the Caribbean and our prospects in Central America."
He continued: "The transaction further adds to Digicel's liquidity and will enable us to take advantage of expansion opportunities as they present themselves."
Digicel Limited Closes US$160 Million Funding Round
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