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Digicel Group to lay ground for refinancing of bond

April 16, 2018 2:44 PM
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The Irish Times newspaper is reporting that within the next month Digicel Group will begin to lay the ground for an eventual US$2 billion refinancing of a bond maturing in 2020.

The so-called "non-deal roadshow" comes after the 2020 yield rose as high as 15.4 per cent from 8.5 per cent – making it the worst emerging markets performer this year.

Digicel has a history of refinancing early and according to the Irish Times some investors might have hoped the company would move to redeem the 2020 bond this year.

Sources say while no final decision has been made, that might not happen soon should yields remain close to their current level, even after a recent dip.

Since 2001, Digicel has accumulated about US$6.5 billion of borrowings, mostly to build out networks across 31 regions.


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