The company announced on Tuesday night that the deadline is being extended from November 2nd until one minute before midnight, east coast US time, on 16 November.
The latest extension has pushed the date out to six weeks ahead of the original timetable. The first deadline for acceptance of the bond swap was set for the last Friday in September, before it was pushed back to October 19th, and then again until the first Friday of November.
O’Brien’s company wants holders of two different note classes to accept new terms, effectively giving the telco two extra years to repay the debt.
The request by the company applies to $2 billion (US$2.2 billion) of debts due for repayment in 2020, which it wants to push out until 2022, and $1 billion (US$1.1 billion) notes due in 2022, for which it wants to delay repayment until 2024.
The proposed changes have been resisted by a cohort of bondholders, delaying the plan. Digicel says it remains in “constructive discussions with an ad hoc group of noteholders”.
SOURCE: THE IRISH TIMES/PACNEWS
Next :
PNG Minister for Higher Education, Research, Science and Technology wants only Online School Leaver forms
Tags:
Tech News