Digicel Group Limited Extends Early Tender Date for Exchange Offers and Consent Solicitation

• Digicel Group Limited announced on Monday evening that it will be further extending the early tender date and expiration date for its recently announced debt exchange offers to 11:59 p.m., New York time on October 19, 2018
• This announcement came as Akin Gump, a US law firm acting for Digicel bondholders, told the telecoms group on Monday that the terms offered to those creditors were “unacceptable”. 

• In a statement, Akin Gump said the holders of more than 60 per cent of the $3 billion that Digicel owes these creditors have agreed not to tender their bonds to the telecoms company in response to its offer. 

• The lawyers said a committee of bondholders had told Digicel of this “lock-up” agreement and said they were willing to enter talks on an alternative proposal if the company withdraws the original offer or extends its cut-off and early acceptance deadlines. 

For more details visit:  https://www.prnewswire.com/news-releases/digicel-group-limited-extends-early-tender-date-for-exchange-offers-and-consent-solicitations-818712391.html

Source: Cision PR Newswire,  Irish Times