Mobile phone company Digicel has reportedly raised $300 million in capital following a corporate bond offering.
The bond financing, raised through investment banks Citigroup and JP Morgan,was at a coupon of 9.25 per cent and was oversubscribed by more than 10 times.
The financing will be used to develop services in Trinidad & Tobago and to repay shareholder loans. Digicel also plans to invested in the recently acquired Cingular Wireless assets in the Caribbean and Bermuda pending regulatory approval.