Bondholders in Denis OBriens Digicel, who are on track to take control of the over-indebted business as part of a massive restructuring, have agreed to grant the group a bridging loan of up to $100 million (90 million) as work continues on the wider overhaul.
Digicel said on Tuesday that holders of $925 million of bonds that were due to be repaid on March 1st the group did not have enough money to redeem the notes have agreed to give the company up to a further 30 days grace on the overdue debt, which would avert a technical default at a time when details on the restructuring path are still being finalised.
The holders of these bonds have also permitted Digicel to take on up to $100 million of further borrowings by way of a bridge faci…
Read the full article at: https://www.irishtimes.com/business/2023/05/02/digicel-bondholders-to-grant-up-to-100m-bridging-loan-amid-restructuring/