Wednesday was a good day for Denis O’Brien. His offer to Digicel’s bondholders — basically, a big reduction in the amount of money they’re owed — is on its way to being accepted. The deal would see as much as $1.7 billion of Digicel’s $7 billion debt being written off, which would go a long way towards securing O’Brien’s control of the company. Bondholders owed more than $5 billion have accepted the deal: new longer-dated notes with greater seniority; a haircut on the amount owed; and a $50 million injection into the business by Denis O’Brien. The deal needs to…

Want to continue reading?

Introductory offer: Sign up today and pay €200 for an annual membership, a saving of €50.

Subscribe

Cancel at any time.

Are you already a member? .