O’Brien looks to sweeten refinancing deal

20 Apr 2020

Digicel Group chairman Denis O’Brien has put up the company’s regional headquarters in the Jamaican capital as collateral as part of a debt refinancing offer to bondholders, The Gleaner writes, citing a spokesperson for the company. According to the Jamaican daily, Mr O’Brien has committed to putting up an additional USD50 million to incentivise bondholders to accept its ‘complicated’ debt restructuring offer: the Kingston facility represents around half of that figure, whilst the other half will be cash. As previously reported by TeleGeography’s CommsUpdate, the offer looks to reduce the company’s debt pile by around USD1.7 billion to roughly USD5.3 billion by exchanging a series of existing bonds for new securities.

Jamaica, Digicel Group