Digicel kept afloat by O’Brien’s dealmaking after flirtation with oblivion

The company’s balance sheet is far from a pretty picture, but it is still in much better shape than it was five years ago after striking a deal with its creditors

31st October, 2021
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The main trade-off for Denis O’Brien in this debt restructure was that Digicel was forced to put its Pacific arm up as security with creditors

The past five years have been anything but easy going for Digicel, the telecoms company owned by Denis O’Brien.

Having abandoned plans to tap the US stock market with an initial public offering (IPO) in 2015, the company came to the point of bankruptcy in May last year after its debt burden had ballooned to “unsustainable” levels above $7 billion.

But it didn’t go under. Instead, it struck a deal with creditors –...

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