SOURCE: Digicel

February 22, 2007 17:28 ET

Digicel Group Limited Announces Pricing of Private Placement of Senior Notes

KINGSTON, JAMAICA -- (MARKET WIRE) -- February 22, 2007 -- Digicel Group Limited today announced the pricing of a private placement of $1.0 billion of 8 7/8% senior notes due 2015 and $400 million of 9 1/8% senior notes due 2015.

Digicel Group Limited is a newly created Bermuda incorporated company formed by Mr. Denis O'Brien, who currently owns 78% of the shares of Digicel Limited on a fully diluted basis.

In connection with the notes offering, Digicel Group Limited is offering to acquire all of the outstanding shares of Digicel Limited in exchange for cash. The share purchase offer will be financed by funding from Mr. O'Brien and the issuance of the senior notes. Closing of the notes offering and the share purchase offer will be conditional upon each other and are expected to occur on February 27, 2007.

The notes will be obligations of Digicel Group Limited only and will not be guaranteed by Digicel Limited or any of its subsidiaries. Interest on the notes will be payable in cash, subject to a right by the issuer to pay interest on the 9 1/8% notes in kind at a higher interest rate of 9 7/8%.

The notes have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

ABOUT DIGICEL

Since its launch in 2001, Digicel has become the fastest-growing wireless telecommunications operator in the Caribbean. Digicel is renowned for competitive rates, unbeatable coverage, superior customer care, a wide variety of products and services, and state-of-the-art handsets. It is the largest GSM operator in the region.

Digicel is incorporated in Bermuda and has operations in twenty two markets, including Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, Curaçao, The Cayman Islands, Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, St. Kitts & Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad & Tobago, Turks & Caicos and El Salvador. Digicel also has a license in Guatemala and coverage in St. Martin and St. Barths.

The company is a leading sponsor of Caribbean and Central American sports teams including the West Indies Cricket Team, Central America Copa De Naciones, Special Olympics teams across the Caribbean and is title sponsor of the Digicel Caribbean Football Union Cup, which involves over 30 Caribbean countries and is an important qualifier towards the CONCACAF Gold Cup.

For more information, visit http://www.digicelgroup.com/.

Contact Information

  • Contact:
    Maureen Rabbitt
    Digicel Group
    T: 876 361 2852 (Jamaica)

    Charlstie Laytin
    Cohn & Wolfe for Digicel
    T: 1+ (212) 798-9830 (New York)