Sunday May 31, 2020

Digicel in new rate deal on $1bn debt

The move will save the company about $2.3 million in annual interest payments, it is understood

Ian Guider

Markets Editor

@ianguider
15th April, 2018

Digicel, the Caribbean mobile phone company owned by Denis O’Brien, has moved to lower the interest rate on $955 million (€780 million) of its borrowings.

Digicel secured approval from its lenders to reprice the interest rate on $955 million of debt due to be paid in 2024 from 3.75 per cent over the London Interbank Offered Rate (Libor) to 3.5 per cent over Libor.

The move will save the company about $2.3 million in annual interest payments, it...

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