Digicel - Consent Solicitation - Completion Update

DIGICEL ANNOUNCES SUCCESSFUL COMPLETION OF ITS CONSENT SOLICITATIONS FOR DIGICEL NOTES (Further Update)

29 MAY 2023

Full announcement including disclaimers and offer restrictions available via prnewswire (Source: Digicel)

"KINGSTON, Jamaica, May 29, 2023 /PRNewswire/ -- Digicel Limited ("DL") has received the requisite consents from holders of its 6.750% Senior Notes due March 1, 2023 (the "Notes") to effect a proposed amendment (the "Proposed Amendment") to the indenture (the "Indenture") governing the Notes. The Proposed Amendment provides for an additional 15-day extension (with an option for a further 15-day extension with the consent of the holders of the majority of the outstanding aggregate principal of the Notes) to the 90-day grace period previously consented to by an overwhelming majority of the holders of the Notes. The consent solicitation expired at 5:00 p.m., New York City time, on May 26, 2023 (the "Expiration Date"). DL has been advised by Epiq Corporate Restructuring, LLC, the information and tabulation agent for the consent solicitation, that as of the Expiration Date, consents were validly delivered and not validly revoked in respect of approximately 80% in aggregate principal amount of the Notes.

As a result, DL, the guarantors of the Notes and Deutsche Bank Trust Company Americas, as trustee, entered into a supplemental indenture dated as of May 26, 2023 implementing the Proposed Amendment.

Facilitated by the extended grace period, DL (together with its subsidiaries, the "Company") continues to engage in constructive negotiations with an ad hoc group of crossover holders (the "Crossover AHG") and an ad hoc group of holders of secured debt issued by Digicel International Finance Limited ("DIFL") (the "DIFL Secured AHG") to implement an agreement in principle with respect to a consensual and comprehensive restructuring transaction, which would reduce the Company's funded indebtedness by approximately $1.8 billion. The Crossover AHG and the DIFL Secured AHG are material debt holders of the Company.

While no definitive agreement concerning the material terms of such a transaction has been finalized, and no assurances can be provided that it will be finalized, based on negotiations to date and agreement in principle on key terms, the Company believes a consensual and comprehensive restructuring is achievable in the near term. The Company expects to announce further updates in the near term."

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DIGICEL ANNOUNCES SUCCESSFUL COMPLETION OF ITS CONSENT SOLICITATIONS FOR DIGICEL NOTES (Further Update)

02 MAY 2023

Full announcement available via prnewswire

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Digicel announces successful completion of its consent solicitation in respect of Digicel Limited Notes

31 MARCH 2023

Full announcement available via prnewswire.

"KINGSTON, Jamaica, March 31, 2023 /PRNewswire/ -- Digicel Limited ("DL") has received the requisite consents from holders of its 6.750% Senior Notes due March 1, 2023 (the "Notes") to effect a proposed amendment (the "Proposed Amendment") to the indenture (the "Indenture") governing the Notes. The Proposed Amendment provides for a 15-day extension (with an option for a further 15-day extension with the consent of the holders of the majority of the outstanding aggregate principal of the Notes) to the 30-day grace period previously consented to by an overwhelming majority of the holders of the Notes. The consent solicitation expired at 5:00 p.m., New York City time, on March 30, 2023 (the "Expiration Date"). DL has been advised by Epiq Corporate Restructuring, LLC, the information and tabulation agent for the consent solicitation, that as of the Expiration Date, consents were validly delivered and not validly revoked in respect of approximately 88% in aggregate principal amount of the Notes.

As a result, DL, the guarantors of the Notes and Deutsche Bank Trust Company Americas, as trustee, entered into a supplemental indenture dated as of March 30, 2023 implementing the Proposed Amendment."

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Digicel announces successful completion of its consent solicitation in respect of Digicel Limited Notes

01 MARCH 2023

Full announcement available via prnewswire.

"KINGSTON, Jamaica, March 1, 2023 /PRNewswire/ -- Digicel Limited ("DL") has received the requisite consents from holders of its 6.75% Senior Notes due March 1, 2023 (the "Notes") to effect certain proposed amendments (the "Proposed Amendments") to the indenture (the "Indenture") governing the Notes. The Proposed Amendments provide for a 30-day grace period, which will automatically be extended to 90 days if DL enters into a restructuring support agreement with holders of at least a majority of the outstanding Notes during such 30-day period, before a default in the payment of interest, certain additional amounts, principal or premium with respect to the Notes constitutes an "Event of Default," as defined in the Indenture. The consent solicitation expired at 5:00 p.m., New York City time, on February 27, 2023 (the "Expiration Date"). DL has been advised by Epiq Corporate Restructuring, LLC, the information and tabulation agent for the consent solicitation, that as of the Expiration Date, consents were validly delivered and not validly revoked in respect of approximately 88% in aggregate principal amount of the Notes.

As a result, DL, the guarantors of the Notes and Deutsche Bank Trust Company Americas, as trustee, entered into a supplemental indenture dated as of February 27, 2023 implementing the Proposed Amendments."