- 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.
Source: Cision PR Newswire, Irish Times