Digicel Continues to Engage in Discussions Regarding Potential Exchange Offers

KINGSTON, Jamaica, March 27, 2020 /PRNewswire/ -- Digicel Group Limited ("Digicel") today announced that it has been engaged in discussions with certain debtholders regarding potential transactions (the "Transactions") involving exchanges of existing debt of entities in the Digicel Group for new securities to be issued by existing and newly formed entities in the Digicel Group. If the Transactions were to be consummated, the value of the exchange consideration would reflect a discount to the current aggregate principal amount of the existing debt.  Depending on the level of participation, Digicel would reserve the right to implement such transactions through a scheme. Digicel has not yet reached an agreement with the debtholders and intends to continue to engage in such discussions. No assurances can be provided that an agreement will be reached.

Forward Looking Statements

This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.

About Digicel

Digicel Group is a leading integrated telecommunications and entertainment provider with operations in 32 markets in the Caribbean, Central America and Asia Pacific. After 18 years of operation, total investment to date stands at over US$6 billion worldwide.

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

Contact:                Antonia GrahamHead of PRT: +1-876-564-1708 (Jamaica)

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SOURCE Digicel Group Limited