Digicel planning early redemption of bonds

15 Jul 2022

Irish-owned, Jamaica-based Digicel Group is planning an early redemption of USD1.1 billion in bonds, following the completion of the sale of its Pacific division – Digicel Pacific Limited (DPL), comprising its subsidiaries in Papua New Guinea, Fiji, Samoa, Vanuatu, Tonga and Nauru – to Australia’s Telstra. The Jamaica Gleaner quotes the Digicel Group’s Head of Public Relations, Antonia Graham as saying: ‘The USD1.1 billion Digicel Group Holdings Limited 10% secured 2024 notes will be redeemed as part of the previously announced sale of Digicel’s Pacific operations to Telstra Corporation Limited and is a term of this bond indenture.’ The notes will be redeemed on 25 July at a price equal to their face amount plus accrued and unpaid interest up to the redemptions date. The redemption will trim Digicel’s debt pile from around USD5.7 billion to roughly USD4.6 billion.

Jamaica, Digicel Group