Digicel Announces Extension Of Consent Solicitation Expirati
KINGSTON, Jamaica, April 8, 2020 /PRNewswire/ -- Digicel Finance Limited ("DIFL") and Digicel Holdings (Bermuda) Limited ("Holdings," and together with DIFL, the "Issuers") today announced the extension of the expiration date of the consent solicitation (the "Consent Solicitation") seeking consents to effect certain proposed amendments (the "Proposed Amendments") to the indenture governing the existing 8.75% Senior Secured Notes due 2024 co-issued by the Issuers (the "Existing DIFL Notes"). The Issuers hereby extend such expiration date from 5:00 p.m., New York City time, on April 8, 2020, to 11:59 p.m., New York City time, on April 28, 2020 (such date and time, as they may be extended, the "Expiration Date").
The consents being sought will permit an additional $100m of borrowings under DIFL's senior credit facility (and make related changes to certain ratios) and are not required to effect the exchange offer launched on April 1, 2020.
The Consent Solicitation is being made only pursuant to the terms and subject to the conditions set forth in the consent solicitation statement dated April 1, 2020 (the "Consent Solicitation Statement"), as amended hereby, and the related letter of transmittal. Approval of the Proposed Amendments requires consents from the holders of at least a majority in aggregate principal amount of the Existing DIFL Notes (the "Requisite Consents"). The Proposed Amendments will become effective and operative upon receipt of the Requisite Consents and the execution of the supplemental indenture with respect to the Existing DIFL Notes (the "Supplemental Indenture"), which may occur prior to the Expiration Date if the Requisite Consents are received before then. Upon the Proposed Amendments becoming effective and operative, all holders of the Existing DIFL Notes will be bound by the terms thereof, even if they did not deliver consents to the Proposed Amendments. Except as described in this press release, all other terms of the Consent Solicitation remain unchanged. For the avoidance of doubt, consummation of this consent is not a condition to any of the exchange offers previously announced by Digicel Group Two Limited or any of its subsidiaries.
Citigroup Global Markets Inc. is acting as solicitation agent (the "Solicitation Agent") for the Consent Solicitation. Epiq Corporate Restructuring, LLC is acting as the information and tabulation agent (the "Information and Tabulation Agent") for the Consent Solicitation.
Requests for the Consent Solicitation Statement may be directed to the Information and Tabulation Agent at (646) 282-2500 for banks and brokers and at (866) 897-6433 (Toll-Free) or (646) 282-2500 (International) for all others.
Questions or requests for assistance in relation to the Consent Solicitation may be directed to the Solicitation Agent at (212) 723-6106.
Forward Looking Statements
This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.
Digicel Group is a total communications and entertainment provider with operations in 32 markets in the Caribbean, Central America and Asia Pacific. After 18 years of operation, total investment to date stands at over US$6 billion worldwide.
Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Haiti, Jamaica, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programmes.
Head of PR
T: +1 876 564 1708 (Jamaica)
SOURCE Digicel Group Limited