SOURCE: Digicel

Digicel

December 22, 2009 12:44 ET

Digicel Limited Announces Successful Completion of Its Tender Offer for Its 9.25% Senior Notes Due 2012

KINGSTON, JAMAICA--(Marketwire - December 22, 2009) - Digicel Limited ("Digicel" or the "Company") today announced the expiration of its previously announced tender offer (the "Tender Offer") for any and all of its outstanding 9.25% Senior Notes due 2012 (CUSIP/ISIN Nos. 25380QAA7/US25380QAA76 and G27649AA3/USG27649AA34) (the "Notes"), as specified in the Company's Offer to Purchase and Consent Solicitation Statement dated November 23, 2009 (the "Statement"). The Tender Offer expired at 11:59 p.m., New York City time, on December 21, 2009 (the "Expiration Date"). The full terms and conditions of the offer are set forth in the Statement and related Letter of Transmittal and Consent, as amended by the press release issued by Digicel on December 8, 2009 (the "Press Release").

As previously announced, on December 8, 2009 Digicel purchased approximately $437.8 million aggregate outstanding principal amount of the Notes that were validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on December 7, 2009 (the "Consent Date"). Digicel has today received and accepted for purchase $0.5 million aggregate outstanding principal amount of the Notes validly tendered and not validly withdrawn subsequent to the Consent Date and prior to the Expiration Date. Digicel has agreed to purchase all such Notes for the tender offer consideration set forth in the Press Release.

Also as previously announced, Digicel has irrevocably called for redemption all Notes that remain outstanding after the consummation of the Tender Offer today. Holders of such Notes will receive the redemption price of US$1,046.25 for every US$1,000 of principal amount of Notes, plus accrued and unpaid interest. Holders may obtain a copy of the official notice of redemption by calling Deutsche Bank Trust Company Americas, the trustee for the Notes, at +1-908-608-3191.

Credit Suisse Securities (USA) LLC served as the dealer manager and solicitation agent for the Tender Offer and the consent solicitation. Questions regarding the Tender Offer and the consent solicitation may be directed to +1-212-538-1862 (collect) or 800-820-1653. Requests for documents may be directed to D.F. King & Co., Inc., the information agent for the tender offer, at +1-212-269-5550 (collect) or at 800-431-9643 (toll-free).

This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any securities. The Tender Offer and consent solicitation were made solely pursuant to the Statement and the related Letter of Transmittal and Consent, as amended by the Press Release, which set forth the complete terms of the Tender Offer and consent solicitation.

Forward Looking Statements

This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events of circumstances after the date hereof, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.

ABOUT DIGICEL GROUP

After eight years of operation, Digicel has 8.8 million customers across its Caribbean and Central American markets and is renowned for competitive rates, unbeatable coverage, superior customer care, a wide variety of products and services and state-of-the-art handsets. By offering innovative wireless services and community support, Digicel has become a leading brand in the Caribbean and has placed the region at the cutting-edge of wireless communications -- the company is also a recent entrant to the Central American and, through a sister company, Pacific markets.

Digicel is incorporated in Bermuda and now has operations in 26 markets in the Caribbean and Central America comprising of: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Honduras, Jamaica, Martinique, Panama, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad & Tobago and Turks & Caicos. The Caribbean company also has coverage in St. Martin and St. Barths.

Digicel Pacific, a sister company of Digicel, has operations in Fiji, Nauru, Papua New Guinea, Samoa, Tonga and Vanuatu.

In total, across its 32 markets, Digicel has 10.3 million subscribers.

Digicel is the lead sponsor of Caribbean and Central American sports teams, including the West Indies Cricket Team and Special Olympics teams throughout the region. Digicel is also title sponsor of the Digicel Caribbean Championships and the Copa de Naciones Digicel, which are the Caribbean and Central American qualifiers to the CONCACAF Gold Cup.

Visit www.digicelgroup.com for more information on Digicel.

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