Digicel, a telecommunications company operating Pay TV and Internet, as well as mobile and fixed telephone services in many Caribbean and Central American countries, is in talks with some bondholders and is offering to exchange current bonds for new securities, as announced by the company through a press release.

“If the transactions were to be consummated, the value of the exchange consideration would reflect a discount to the current aggregate principal amount of the existing debt”, explained executives of the company, whose owner is Irish businessman Denis O’Brien.

Digicel has reported that although it has not yet reached an agreement with the bondholders, it will continue negotiations. If the company gets the support of most creditors, it can use a legal frame to impose the exchange on all creditors, according to information included in the press release.