Digicel Limited Announces Early Settlement of Its Tender Offer and Consent Solicitation for Any and All of Its 7.000% Senior Notes Due 2020

KINGSTON, Jamaica, May 25, 2017 /PRNewswire/ --

Digicel Limited ("Digicel", the "Company" or "we") today announced that it has accepted for purchase $203,330,000 aggregate principal amount, or 81.33%, of its outstanding 7.000% Senior Notes due 2020 (the "Notes") that were validly tendered and not withdrawn by 5:00 p.m., New York City time on May 19, 2017 (the "Tendered Notes") pursuant to the Company's previously announced offer to purchase for cash any and all of the Notes and related solicitation of consents from holders of the Notes. The Company is paying for the Tendered Notes today. Holders may continue to tender their Notes until 11:59 p.m., New York City time, on June 5, 2017, pursuant to the terms of the tender offer, and will receive the tender offer consideration, which equals 99% of their principal amount, plus accrued and unpaid interest to the settlement date.

Pursuant to the terms of the tender offer, Notes not tendered in the tender offer will remain outstanding. However, the Company expects to issue today a redemption notice (the "Notice") for all outstanding Notes pursuant to the terms of the indenture governing the Notes. Pursuant to the Notice, all remaining outstanding Notes will be redeemed on May 30, 2017 at a price equal to 101.750% of their face amount, plus accrued and unpaid interest to, but not including, the redemption date.

This press release does not constitute a notice of redemption under the indenture governing the Notes. The terms and conditions of the redemption will be described in the Notice distributed to holders of the Notes.

The Company has retained Citigroup Global Markets Inc. to serve as the dealer manager and solicitation agent for the tender offer and consent solicitation. Questions regarding the tender offer and consent solicitation may be directed to Citigroup Global Markets Inc. at Attn: Liability Management Group, (800) 558-3745 (toll-free), (212) 723-6106 (collect). Requests for documents may be directed to Global Bondholder Services Corporation, the information agent for the tender offer and consent, at (212) 430-3774 (collect) or at (866) 470-4300 (toll-free).

Forward-Looking Statements 

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 tender offer and consent solicitation is being made solely pursuant to the Statement and the related letter of transmittal, which set forth the complete terms of the tender offer and consent solicitation.

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 Digicel 

We are a total communications and entertainment provider with operations in the Caribbean, Central America and Asia Pacific. We launched services in Jamaica, our first market, in 2001 and became the market leader within 15 months of launch. We currently operate wireless services in 32 markets.

After 16 years of operation, total investment to date stands at over US$5 billion worldwide. The company is renowned for delivering best value, best service and best network.

Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Haiti, Jamaica, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programmes.

For further information please contact: 

Antonia Graham
Group Head of PR
+1-876-564-1708

SOURCE Digicel