Digicel Group Limited Announces Private Placement of Senior Notes

KINGSTON, Jamaica, Feb. 14 /PRNewswire/ — Digicel Group Limited, announced today its intent to launch a private placement of $1.4 billion of senior notes due 2015. Digicel Group Limited is a newly created Bermuda incorporated company formed by Mr. Denis O’Brien, who currently owns 78% of the shares of Digicel Limited on a fully diluted basis. In connection with the notes offering, Digicel Group Limited is offering to acquire all of the outstanding shares of Digicel Limited in exchange for cash. The share purchase offer will be financed by funding from Mr. O’Brien and the issuance of the notes. Closing of the notes offering and the share purchase offer will be conditioned upon each other.

The notes will be obligations of Digicel Group Limited only and will not be guaranteed by Digicel Limited or any of its subsidiaries. Interest on the notes is expected to be payable in cash, subject to a right by the issuer to pay interest on a portion of the notes in kind at a higher interest rate.

The notes have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

ABOUT DIGICEL: Since its launch in 2001, Digicel has become the fastest- growing wireless telecommunications operator in the Caribbean. Digicel has operations in twenty two markets, including Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, Curacao, The Cayman Islands, Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, St. Kitts & Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad & Tobago, Turks & Caicos and El Salvador. Digicel also has a license in Guatemala and coverage in St. Martin and St. Barths.