{"id":110679,"date":"2020-05-18T19:17:36","date_gmt":"2020-05-18T23:17:36","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=110679"},"modified":"2020-05-18T19:17:36","modified_gmt":"2020-05-18T23:17:36","slug":"digicel-issues-statement-following-reports-that-it-filed-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/digicel-issues-statement-following-reports-that-it-filed-for-bankruptcy\/","title":{"rendered":"Digicel Issues Statement Following Reports That It Filed For Bankruptcy"},"content":{"rendered":"
\"\"<\/a><\/div>
\"\"<\/a><\/div>

Digicel has issued a press statement\u00a0to update on its progress since announcing its plan to refinance over a month ago.<\/h4>\n

The release from Digicel states:<\/p>

\"\"<\/a><\/div>\n

\u2018At the start of April, we announced refinancing activities which, when complete,\u00a0will strengthen our balance sheet by\u00a0reducing our debt by USD\u00a0$1.7 billion, extending our maturities and reducing our ongoing financing costs.<\/p>\n

\u2018Following overwhelming support from our debtholders for these proposals, we are now progressing with the required administrative processes.<\/p>

\"\"<\/a><\/div>
\"\"<\/a><\/div>\n
\n
\n
\u2018As such, we announced details of a proposed Scheme of Arrangement in the Bermudian Courts in connection with Digicel Group One Limited, which is purely an intermediate financing holding company.<\/strong><\/h5>\n
\u2018This Scheme has the support of over 97 per cent\u00a0of its bondholders and also involves the appointment of a light touch joint provisional liquidators to oversee the implementation of the Scheme.<\/strong><\/h5>\n<\/blockquote>\n<\/blockquote>\n

\u2018It\u2019s important to point out that this will have no impact on our day to day operations, our staff, our suppliers, our customers or any aspect of our ongoing activities \u2013 it is business as usual.<\/p>

\"\"<\/a><\/div>\n

\u2018We will provide further updates on this as we progress.\u2019<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Digicel has issued a press statement\u00a0to update on its progress since announcing its plan to refinance over a month ago. The release from Digicel states: \u2018At the start of April, we announced refinancing activities which, when complete,\u00a0will strengthen our balance sheet by\u00a0reducing our debt by USD\u00a0$1.7 billion, extending our maturities and reducing our ongoing financing […]<\/p>\n","protected":false},"author":3,"featured_media":110663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-110679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nDigicel Issues Statement Following Reports That It Filed For Bankruptcy - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/digicel-issues-statement-following-reports-that-it-filed-for-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Digicel Issues Statement Following Reports That It Filed For Bankruptcy\" \/>\n<meta property=\"og:description\" content=\"Digicel has issued a press statement\u00a0to update on its progress since announcing its plan to refinance over a month ago. 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