Digicel Announces Final Results of Its Modified Dutch Auction Tender Offer for Its 7.00% PIK Perpetual Convertible Notes

KINGSTON, Jamaica, Dec. 18, 2020 /PRNewswire/ -- Digicel Group Holdings Limited, formerly known as Digicel Group 0.5 Limited ("Digicel," the "Company", "we" or "us"), today announced the expiration and final results of its previously announced cash tender offer (the "Offer") to spend up to $10.0 million to purchase its 7.00% PIK Perpetual Convertible Notes (the "Notes"). The Offer expired at 11:59 p.m., New York City time, on December 17, 2020 (the "Expiration Date"). The Offer was made pursuant to the Offer to Purchase dated November 19, 2020 (the "Offer to Purchase"), as amended by a press release dated December 4, 2020 (the "Press Release").

Pursuant to the terms of the "modified Dutch Auction" procedure as described in the Offer to Purchase, the Clearing Price is set at $240 per $1,000 principal amount of Notes (the "Total Consideration"). As previously announced in the Press Release, the Company amended the terms of the Offer such that any holder that validly tenders Notes prior to the Expiration Date and has its Notes accepted for purchase in the Offer will be eligible to receive the Total Consideration.

In aggregate, a total of $9,976,036 aggregate principal amount of Notes was validly tendered (and not withdrawn) in the Offer on or prior to the Expiration Date. The Company expects to accept and pay for the $9,976,036 aggregate principal amount of Notes validly tendered on December 22, 2020 (the "Final Settlement Date").

Citigroup Global Markets Inc. served as Dealer Manager and Global Bondholder Services Corporation served as the Tender and Information Agent for the Offer.

No Offer or Solicitation

This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or sell the Notes or any other securities or a solicitation of consent with respect to the Notes or any other securities, nor shall there be any purchase of our Notes in any state or jurisdiction in which such offer, solicitation or purchase would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Offer was made solely pursuant to the terms of the Offer to Purchase, as amended by the Press Release.

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 or 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 Us

As a Digital Operator, Digicel is in the business of delivering powerful digital experiences 1440 minutes of each day to customers – that's every minute, all day, every day.

Through its world-class LTE and fibre networks, together with its suite of 8 apps spanning sports (SportsMax), music (D'Music), news (Loop), local radio and podcasts (GoLoud), TV streaming (PlayGo), enhanced messaging and marketplaces (BiP), cloud storage (Billo) and self-care (MyDigicel app), Digicel is the only operator in its markets that can deliver that.

Serving consumer and business customers in 32 markets in the Caribbean, Central America and Pacific, its investments of over US$7 billion and a commitment to its communities through its Digicel Foundations in Haiti, Jamaica, Papua New Guinea and Trinidad & Tobago have contributed to positive outcomes for over 3 million people to date.

With its Better Together brand, Digicel is making a promise of simply more to customers and communities and its 7,000 employees worldwide work together to make that a powerful reality day in, day out.

www.digicelgroup.com

Contact:

Antonia Graham
Head of PR
T: +1 876 564 1708 (Jamaica)
[email protected]

SOURCE Digicel Group Limited