SOURCE: Digicel

March 15, 2010 15:11 ET

Digicel Group Limited Announces Private Placement of Senior Notes Due 2018

Plans to Acquire 100% of Digicel Pacific Limited

KINGSTON, JAMAICA--(Marketwire - March 15, 2010) -  Digicel Group Limited ("DGL") today announced its intention to launch a private placement of US$775 million of senior notes due 2018. DGL is a Bermuda incorporated company owned by Mr. Denis O'Brien.

The net proceeds of this issue will be used to fund DGL's anticipated purchase of Digicel Pacific Limited ("DPL"), a sister company that operates in 6 markets in the South Pacific. The balance of the purchase price not funded by the proposed debt issuance will be funded by cash on hand at Digicel Group Limited.

DPL operates in Samoa, Tonga, Vanuatu, Papua New Guinea, Fiji and Nauru.

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

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Contact Information

  • Contact:
    Antonia Graham
    Head of Group PR
    T: +1876 5641708 (Jamaica)