KINGSTON, Jamaica, March 30, 2020 /PRNewswire/ -- Digicel Group Limited ("Digicel") today announced that arising from ongoing constructive and consensual discussions with some of its largest debtholders, its subsidiaries are electing to take advantage of the 30-day grace period permitted under the relevant indentures and defer making the interest payment on the (i) 8.250% Senior Notes due 2022 of Digicel Group One Limited ("DGL1") that was otherwise due on March 30, 2020, (ii) 8.250% Senior Notes due 2022 of Digicel Group Two Limited ("DGL2") that was otherwise due on March 30, 2020 and (iii) 9.125% Senior Cash Pay/PIK Notes due 2024 of DGL2 that was otherwise due on April 1, 2020.
Digicel continues to engage in constructive discussions with certain debtholders regarding potential transactions involving exchanges of existing debt aimed at reducing Digicel's leverage, extending its debt maturities and continuing monetization of its well invested network.
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.
Digicel Group is a leading integrated telecommunications and entertainment provider with operations in 32 markets in the Caribbean, Central America and Asia Pacific. After 18 years of operation, total investment to date stands at over US$6 billion worldwide.
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.
Contact: Antonia Graham Head of PR T: +1 876 564 1708 (Jamaica)