Refinancing activities started: Telco

DIGICEL says the company will not be impacted in any way following the refinancing activities it has started.
It said in a statement that at the start of April, they announced refinancing activities which, when completed, would strengthen the company’s balance sheet by reducing its debt by US$1.7 billion (K5.73bn), extending the maturities and reducing ongoing financing costs.
“Following overwhelming support from our debt-holders for these proposals, we are now progressing with the required administrative processes.
“As such, we announced details of a proposed Scheme of Arrangement in the Bermudian Courts in connection with Digicel Group One Limited, which is purely an intermediate financing holding company.
“This scheme has the support of over 97 per cent of its bondholders and also involves the appointment of light touch joint provisional liquidators to oversee the implementation of the scheme.
“It’s important to point out that this will have no impact on our day to day operations, our staff, our suppliers, our customers or any aspect of our ongoing activities – it is business as usual.
“We will provide further updates on this as we progress.”