Digicel extends bondholder deadline again
A plan unveiled by Digicel in August to offer new bonds with longer repayment dates to holders of $3 billion of the company's debt has been opposed by some investors
Digicel,the Caribbean mobile phone business owned by Denis O’Brien, has again extended the deadline for its bondholders to accept an offer to extend the maturity of some of its borrowings.
Holders of $3 billion of Digicel’s debt due to be repaid next year and in 2022 had until Friday night to accept new bonds. In a statement on Tuesday, however, Digicel said the deadline was being pushed back to December 7.
The plan unveiled by Digicel in August to offer new bonds with longer repayment dateshas been opposed by some investors. A large group of bondholders have hired the US law firm Akin Gump and investment bank Moelis to advise them on the talks, and sources have said that these funds represent more than half of the $3 billion of debt.
