AMERICAS DISTRESS DAILY: Digicel to Refinance Over $2 Billion

Digicel Group is working with JPMorgan on a potential deal to refinance over $2 billion of the mobile operator’s debt.

• The deal could be launched in the coming weeks. The discussions come as the company told creditors that the Department of Justice dropped a probe earlier this year into potential violations of the Foreign Corrupt Practices Act, improved performance and management changes, the people said.
• Digicel has about $2.3 billion of secured debt, including a bond and a term loan due in May 2027.

In Other News:

• Special situation funds are shifting focus to higher-quality debt, seeking steady cash interest ...