Jamaica's Digicel to price $865 million eight-year notes on Wednesday

By Paul A. Harris

Portland, Ore., March 19 - Digicel Group Ltd. plans to price an $865 million offering of eight-year senior notes (expected Caa1//B-) on Wednesday, trailing a mid-morning conference call with investors, according to a syndicate source.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Davy Securities are the joint bookrunners for the Rule 144A and Regulation S offer.

The notes come with three years of call protection.

The Kingston, Jamaica, wireless communications company plans to use the proceeds to fund the tender for its 10½% senior notes due 2018 and for general corporate purposes.

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