Digicel closes US$300m bond offer
Published:Wednesday | December 8, 2010 | 12:00 AM
Digicel Limited has raised its targeted US$300 million in a corporate bond offering that closed Tuesday.
"The funds raised will in part support the planned expansion of our business in Haiti which delivered strong year-on-year revenue growth for the six months ended September 30, 2010," said Digicel group CEO Colm Delves in a company statement.
The offer made through private placement was a partial reopening of a 2017 bond first issued in December 2009.
Digicel Limited is the holding entity for a 44 per cent stake in Digicel Holdings (Central America) Limited.
Digicel says it has 1.4 million subscribers in that bloc - Honduras and Panama - and over 11 million subscribers overall across 32 markets.
Haiti it has previously said, has more than two million subscribers.
"I am very pleased with the positive response to this transaction, which was more than two times over-subscribed with participation from over 75 well-established high yield and emerging market accounts," said Delves.
Credit Suisse, Citi, JP Morgan, Deutsche Bank, Barclays Capital and Davy acted as initial purchasers on the bond offering, Digicel said.