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 read the full story?

Unlock this article – and everything else on The Currency – with an annual membership and receive a free Samsonite Upscape suitcase, retailing at €235, delivered to your door.

Subscribe

Cancel at any time.

Are you already a member? .