Digicel, the largest wireless telecommunications operator in the Caribbean, is marching on with its expansion plans despite global turmoil.
On March 6, Digicel Limited priced and closed the first high-yield corporate deal out of the region since last July. The $335 million privately placed, five-year, non-call three transaction priced with a 12% coupon to yield 15%. “We had a degree of flexibility. This wasn’t a deal we had to do, it was one we wanted to do,” says Lawrence Hickey, group chief financial officer at Digicel.
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