Digicel

In return for a debt restructuring, the tycoon is ceding control of the Caribbean mobile phone company he founded in 2001

The telecoms magnate is expected to lose control of Digicel, his Caribbean telecoms group

Denis O’Brien’s mobile telecoms operator expanded fast, but has struggled to get on top of its debts in recent years

Telecoms company agreed debt writedown as recently as 2020

Businessman on track to cede control under plan agreed with a group of bond creditors

Joe Brennan: Only $315m of ‘standalone cash’ on group’s balance sheet as of December

Ratings agency says firm’s borrowing levels are ‘unsustainable’ relative to earnings

More than 80% of Denis O’Brien-owned group’s $4.55bn of bonds and corporate loans due to mature by end 2025

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Anchored in Barbados, the Dubliner has built an international architecture firm that straddles the Atlantic

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Denis O'Brien's Caribbean telco is awarded more than $10m over 'bypass fraud'

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Firm in talks on third debt overhaul in four years as it targets holders of $925m of bonds due to be repaid next March

Telecoms group had net debt of $4.2 billion at the end of September, equating almost six times its earnings over the preceding 12 months

Ratings agency Fitch sees “elevated” risks Digicel may need to restructure bonds

Global debt markets have turned sour in the past eight months and junk-bond markets have fared the worst

Adverse foreign exchange movements drag guidance matching underlying earnings growth of 5% down to a 2% fall in profits

Move by Digicel to redeem bonds would reduce debt from about $5.7bn to $4.6bn

Deal closes as Digicel enters arbitration over a disputed $100 million ‘exit tax’ in Papua New Guinea

Denis O’Brien-owned firm’s full-year service revenues rose 4% to $2.2bn, as earnings grew at same pace

Ratings agency Fitch says Digicel ‘faces significant refinancing risk’ with its 2023 bonds

Businessman named one of seven people who engaged in ‘active concealment’

Consolidation ‘spells end of competition in the telecoms market for smaller players’

Group ponders legal options as Papa New Guinea hits it with substantial bill – €90.5m

Telecoms company’s net debt stood at $5.5 billion at the end of December

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Irish businessman criticises social media giant for facilitating the growth of ‘anarchy’

Denis O’Brien telco said to be close to a deal

Chief executive unveils new strategy for Australian telecoms group running to 2025

Digicel founder seeking to sell off Pacific arm of telecoms group

Australian telco says Denis O’Brien-owned unit a ‘commercially attractive asset’

Impoverished nation is one of Denis O’Brien-controlled telco’s key markets

Possible sale of Pacific business set to drag into second half

New grade remains deep in so-called junk-status territory, 15 rungs below AAA rating

Croatian tech company Infobip buys Irish firm in a multimillion euro deal

Among the gainers are Denis O’Brien, Eugene Murtagh and Dermot Desmond

Telco says claims by outgoing US ambassador to Jamaica are ‘without foundation’

Covid crisis continues to weigh on telecoms group

Notes due to convert into Digicel stake in 2023