Consortium Legal advised Digicel on a $1.35 billion loan
Consortium Legal, through its El Salvador office, advised the mobile operator Digicel on obtaining the financing.
Digicel is a mobile phone network provider operating in 31 markets across the Caribbean, Central America, and the South Pacific. The company is incorporated in Bermuda, and based in Jamaica.
The financing was comprised of a Term A loan worth roughly $300 million—made up of separate US Dollar and Euro-denominated loans—and a Term B loan valued at $955 million. The deal also includes a $100 million revolving credit facility. Citi acted as administrative agent for the facilities. Citi also acted as joint book runner with JPMorgan, and co-lead arranger with JPMorgan, Barclays, Credit Suisse and Deutsche Bank
Partner Oscar Samour led the team at Consortium Legal advising Digicel, which also instructed Davis Polk & Wardwell in the US
The banks retained Arias for El Salvador counsel, with partner Zygmunt Brett at the helm. For US counsel, the lenders mandated Pillsbury Winthrop Shaw Pittman.