Digicel has had a good year. By the skin of his teeth, it’s looking like Denis O’Brien might avoid having to hand over 49 per cent of the company to bond investors. In April last year, Digicel reached a deal with creditors, who accepted a $1.7 billion write down in what they were owed. In exchange, O’Brien put $60 million into the business and issued $200 million of convertible notes. The notes would convert into a 49 per cent stake in the business if Digicel failed to refinance a $920 million bond coming due in March of 2023. Why…

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After a torrid few years, a path has opened up for Denis O’Brien to retain full control of Digicel

14 months ago, Digicel agreed to hand over 49% of the company to creditors if it failed to refinance by 2023. Since then, there are signs the tide is starting to turn in Digicel's favour. And this week, Fitch upgraded the credit rating on some of Digicel's debt.

25th Jun, 2021 - 4 min read

Sean Keyes

Finance Correspondent

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