Digicel announces AMENDMENT TO INDENTURE GOVERNING ITS SENIOR NOTES DUE 2025

KINGSTON, Jamaica, Aug. 10, 2023 /PRNewswire/ -- Digicel Group Holdings Limited ("DGHL") has received the requisite consents from holders of its 8.0% Senior Cash Pay/PIK Notes due 2025 (the "Notes") to effect an amendment (the "Amendment") to the indenture (the "Indenture") governing the Notes.  The Amendment amends Section 6.10 of the Indenture to (i) provide that payments made pursuant to Article Six of the Indenture shall be paid to holders for amounts due and unpaid on the Notes for principal thereof before any payments pursuant to such Article Six shall be paid to holders for amounts due and unpaid on the Notes for premium, interest and Additional Amounts (as defined in the Indenture) and (ii) permit DGHL to fix a record date for payments made pursuant to Section 6.10 by or through The Depository Trust Company with only five days' notice if such notice is filed with and posted to The Depository Trust Company. The Amendment will facilitate the payment of the Interim Distribution (as defined in the DGHL RSA) to holders of the Notes pursuant to the restructuring support agreement entered into by DGHL and certain holders of DGHL's outstanding notes previously announced on May 29, 2023 (the "DGHL RSA").

DGHL is a non-operating holding company within the Digicel group. Digicel's operating companies, which are owned by subsidiaries of DGHL, are not directly impacted by the DGHL RSA.

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Important Note

The information herein should not be regarded as an indication that the Company or any other person considered, or now considers, this information to be predictive of actual future results, and does not constitute an admission or representation by any person that such information is material or complete, or that the expectations, beliefs, opinions and assumptions that underlie these materials remain the same as of the date of this disclosure and the information or as of the date indicated contained in these materials may have been superseded by subsequent developments.

Readers are cautioned not to place undue reliance on these materials and are referred to the Company's current public disclosure.

Forward Looking Statement

This material may contain certain "forward-looking statements" and information relating to the Company and its affiliates that reflects the current views and/or expectations of the Company and its management with respect to future events.  Such statements are subject to a number of risks, uncertainties and assumptions.  All forward-looking statements herein are based on information and data available as of the date they were made, and the Company makes no undertaking to update them in light of new information or future developments.

Forward looking statements herein are necessarily based on a variety of estimates and assumptions may not be realized and are inherently subject to significant business, economic, competitive, industry, regulatory, market, legal and financial uncertainties and contingencies, many of which are and will be beyond the Company's control.

For the avoidance of doubt, and without limiting the foregoing, the materials herein may include forward-looking statements that were prepared and presented at various points in time and that, given the passage of time, may not be consistent with one another or reflective of any view or knowledge of the Company as of the date of this announcement.

THIS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN THE UNITED STATES, AND IT DOES NOT CONSTITUTE AN OFFER, SOLICITATION OR SALE IN ANY STATE OR JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES UNLESS THEY ARE REGISTERED OR EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT").  ANY PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS.

SOURCE Digicel