Milbank LLP represented the initial purchasers and lead arrangers in connection with an extensive multibillion-dollar refinancing for Digicel, a leading provider of communications services in the Caribbean region.
The transactions comprised $1.99 billion of first lien senior secured notes, $750 million of first lien senior secured term loans and a $200 million super priority revolving credit facility, in each case issued or borrowed, as applicable, by Digicel International Finance Limited and DIFL US LLC. Digicel used proceeds from the transactions, along with cash on hand, to repay existing debt.
The Milbank deal team was led by Corporate Finance and Securities partner and Practice Group Leader Jonathon Jackson and Global Leveraged Finance partner Ben Sayagh along with Corporate Finance and Securities special counsel Teresa Chen, with support from Corporate Finance and Securities associates Ian Hunley and Devarshi Mukhopadhyay and law clerk Zachary Moon along with Global Leveraged Finance associates Julia Wennberg, Harry Struss, Catherine Cohen, Riley Ruppel and Alvaro Aleman and law clerk Xiao Chang.
