New Issue: Jamaica's Digicel sells $300 million tap of 6% notes due 2021 at par to yield 5.998%

By Paul A. Harris

Portland, Ore., March 19 - Jamaica's Digicel Ltd. priced an upsized $300 million add-on to its 6% senior notes due April 15, 2021 (B1//B) at par to yield 5.998% on Tuesday, according to a syndicate source.

The reoffer price came on top of price talk.

Citigroup Global Markets Inc. was the left bookrunner for the quick-to-market add-on, which was upsized from $250 million.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Barclays and Deutsche Bank Securities Inc. were the joint bookrunners.

The Kingston, Jamaica, wireless communications company plans to use the proceeds for general corporate purposes.

Issuer:	Digicel Ltd.
Amount:	$300 million, increased from $250 million
Maturity:	April 15, 2021
Security description:	Add-on to 6% senior notes due April 15, 2021
Left bookrunner:	Citigroup Global Markets Inc.
Joint bookrunners:	J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Barclays, Deutsche Bank Securities Inc.
Coupon:	6%
Price:	Par
Yield:	5.998%
First call:	Callable April 15, 2016 at 104.5
Trade date:	March 19
Settlement date:	March 22
Ratings:	Moody's: B1
	Fitch: B
Distribution:	Rule 144A and Regulation S for life
Price talk:	6% at par
Marketing:	Quick to market
Original issue:	$1 billion issue priced at par on Feb. 19, 2013
Total issue size:	$1.3 billion

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