Press Releases

KINGSTON, Jamaica, Feb. 10, 2012 /PRNewswire/ -- Digicel Limited ("DL") today announced it has completed a US$250 million corporate bond offering.

The bonds were priced to yield 7.00%.

Digicel Limited is a leading emerging markets mobile phone operator providing services in 24 markets in the Caribbean and Central America, with 9 million subscribers at September 30, 2011. DL also holds a 44% stake in Digicel Holdings (Central America) Limited and DL's parent company Digicel Group Limited operates in an additional 6 markets in the South Pacific.

The use of proceeds of this offering will be for general corporate purposes, including acquisitions and debt service.

Colm Delves, Digicel Group Chief Executive, said: "This transaction has again been extremely well supported by the international financing community, having attracted over US$2.3 billion in orders from more than 160 different accounts and we are very pleased to have priced this transaction at 7%.  The funds will leave us in a strong position to expand our business further as we look into acquisition opportunities."

Citi, J.P. Morgan, Credit Suisse, Barclays Capital and Deutsche Bank acted as initial purchasers on the bond offering.

ABOUT DIGICEL GROUP LIMITED (parent company of Digicel Limited)

After ten years of operation, Digicel Group Limited has over 11 million customers across its 31 markets in the Caribbean, Central America and the Pacific. The company is renowned for delivering best value, best service and best network.

Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams, including the Special Olympics teams throughout these regions. Digicel sponsors the West Indies cricket team and is also the title sponsor of the Digicel Caribbean Cup. In the Pacific, Digicel is the proud sponsor of several national rugby teams and also sponsors the Vanuatu cricket team.

Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti and Papua New Guinea which focus on educational, cultural and social development programmes.

In 2004, Digicel developed Digicel Rising Stars – an annual talent show to support aspiring young music artists in the Caribbean. The show has spanned the Eastern Caribbean, Haiti, Jamaica and Trinidad & Tobago ranking as one of the top-rated shows.

Digicel is incorporated in Bermuda and its markets comprise: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Nauru, Panama, Papua New Guinea, Samoa, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks & Caicos and Vanuatu. Digicel also has coverage in St. Martin and St. Barts in the Caribbean.

Visit www.digicelgroup.com for more information.

SOURCE Digicel Limited

WASHINGTON, Feb. 10, 2012 /PRNewswire-USNewswire/ -- The U.S. Transformer Fair Trade Coalition supports the U.S. Department of Commerce ("Commerce") preliminary determination that imports of liquid dielectric large power transformers ("LPTs") from Korea are being dumped in the United States at average dumping margins of 21.79 percent for Hyundai Heavy Industries ("Hyundai") and 38.07 percent for Hyosung Corporation ("Hyosung").  The average dumping margin for all other Korean producers was found to be 29.93 percent.  As a result of this determination, Commerce will immediately order U.S. Customs and Border Protection to require the deposit of estimated dumping duties or the posting of a bond on all entries of LPTs from Korea beginning with the publication of the preliminary determination by Commerce in the Federal Register next week. 

The U.S. Transformer Fair Trade Coalition, an ad hoc coalition of domestic transformer producers, filed the trade action on July 14, 2011, in response to a large and increasing volume of dumped imports of LPTs from Korea over the past three years that has injured domestic LPT producers.  The petitioners in the coalition are ABB Inc. of Cary, North Carolina, Delta Star, Inc. of Lynchburg, Virginia, and Pennsylvania Transformer Technology, Inc. of Cannonsburg, Pennsylvania.

"The petitioners are very pleased that Commerce confirmed significant antidumping duty margins for the Korean producers, as we had alleged.  These dumping margins demonstrate just how aggressively the Korean producers have acted in selling large power transformers into the U.S. market," commented Alan Luberda, the domestic industry's lead trade counsel.  

The Commerce Department will next attempt to verify the information submitted by the Korean producers and will announce its final determination in June 2012.  The preliminary determination of dumping also signals that the U.S. International Trade Commission ("ITC") will begin its final injury investigation, which will be completed in July 2012.  If Commerce makes a final affirmative determination of dumping and the ITC makes a final affirmative injury or threat of injury determination, an antidumping duty order will be issued on all imports of LPTs from Korea for a minimum of five years. 

Large power transformers are components used extensively in high voltage electrical power transmission systems to transfer power by electromagnetic induction between circuits at the same frequency, usually with changed values of voltage and current.  The scope of the investigation covers liquid dielectric large power transformers with a top rating of 60 MVA or more.  The petitioners are represented in these actions by R. Alan Luberda and Kathleen W. Cannon of the law firm Kelley Drye & Warren LLP.

SOURCE U.S. Transformer Fair Trade Coalition

BOSTON, Feb. 10, 2012 /PRNewswire/ -- Eaton Vance Management, the Boston-based investment adviser, announced the monthly distributions declared on the common shares of three of its closed-end equity funds (the "Funds"). The record date for the distributions is February 22, 2012, and the payable date is February 29, 2012. The ex-date is February 17, 2012.  The distribution per share for each Fund is as follows:

At this time the Funds believe that a portion of the February distributions may be comprised of amounts from sources other than net investment income.  If that is the case, you will be notified in writing.  Further information will be available prior to the payment date at   http://funds.eatonvance.com.  The final determination of tax characteristics of each Fund's distributions will occur after the end of the year, at which time it will be reported to the shareholders.

The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $184.5 billion in assets as of December 31, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions.  The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors.  For more information about Eaton Vance, visit www.eatonvance.com.

SOURCE Eaton Vance Management