Interest rate reduced following strong lender support, reflecting turnaround progress and improved credit profile
KINGSTON, Jamaica — Digicel today announced the successful repricing of its term loan due 2032, the latest milestone in the company’s financial turnaround.
The transaction lowers Digicel’s borrowing costs on its existing debt and reflects improved operating performance, disciplined financial management, and continued progress since its refinancing last year. The repricing of its First Lien Term Loan follows a recent $100 million voluntary prepayment, underscoring Digicel’s focus on deleveraging and fiscal discipline.
Together, these actions have strengthened the company’s credit profile and built strong support from lenders.
The repricing reduces the interest rate on Digicel’s approximately $648 million loan by 0.75 percentage points. It includes no changes to the size, structure, or maturity, which remains in August 2032, and does not involve new borrowing.
“This achievement reflects the significant progress we’ve made in strengthening Digicel’s financial position,” said Leopoldo Gutierrez, Group Chief Financial Officer. “Securing improved pricing, following our recent debt paydown, underscores the strength of our business and the confidence of our lenders. It also gives us greater flexibility to continue investing in our networks and supporting long-term growth.”
Under new leadership, Digicel has executed a focused turnaround strategy that has reduced debt and repositioned the business for growth. The company also continues making investments in mobile, broadband, and enterprise services across its 25 Caribbean and Latin America markets.
Digicel is working toward its goal of building a more resilient, future-ready network that includes bolstering infrastructure to withstand climate-related risks and support the long-term needs of its customers and communities.