Digicel, debtholders in talks about potential exchanges for new debt

By Marisa Wong

Los Angeles, March 27 – Digicel Group Ltd. said it has been in discussions with some debtholders regarding potential exchanges of existing debt for new securities to be issued by existing and newly formed entities in the Digicel Group.

If the exchange transactions were to be carried out, the exchange consideration would reflect a discount to the current aggregate principal amount of the existing debt.

Depending on the level of participation, Digicel would reserve the right to implement these transactions through a scheme.

Digicel said it has not yet reached an agreement with the debtholders but intends to continue these discussions.

Based in Kingston, Jamaica, Digicel is a telecommunications and entertainment provider with operations in the Caribbean, Central America and Asia Pacific.

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