RJR News understands that two major Irish financial institutions - AIB and Bank of Ireland - are among the syndicate of 10 lenders that backed Digicel's U$1.25 billion refinancing in May.
Based on the strong demand for loans, this allowed Digicel to increase the amount it borrowed on the markets, and extend its debt maturity profile at lower-than-expected costs.
The deal, by Digicel's International Finance subsidiary, saw a planned refinancing of U$935 million of term loans increased to US$1.25 billion.
According to Latin Finance - a financial markets intelligence service covering Latin American markets - Butterfield Bank, the Canadian Imperial Bank of Commerce and Export Development Canada also joined the syndicate.
The banks' individual investments are likely to run to tens, if not hundreds, of millions each.
The refinancing was launched by Digicel primarily to replace US$856 million of secured loans falling due between March 2018 and March 2019 with longer-term debt.
Extra funds raised will go to repay US$250 million of senior bonds that carry a 7 per cent interest rate and fell due in early 2020.
The deal will reduce Digicel's interest bill and push its next substantial debt repayment deadline out to late 2020.
It also shifts more of the Denis O'Brien-owned telecom and communications services group's debt from the public bond market to the private loan market.
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