Digi Communications N.V. announces that the Company’s Romanian subsidiary exercised its right to redeem the Senior Secured Notes due in 2025 in principal amount of €450,000,000

Digi Romania Announces Full Redemption of 2025 Bonds

(IN BRIEF) Digi Communications N.V. announced that its Romanian subsidiary, Digi Romania S.A., has exercised its right to fully redeem €450 million worth of 2.50% Senior Secured Notes due in 2025. The redemption will take place on September 27, 2024, with noteholders entitled to the principal amount, plus accrued interest. The final record date for eligibility is September 26, 2024. Citibank in London will act as the paying agent. Interest on the notes will stop accruing after the redemption date unless there’s a payment default.

(PRESS RELEASE) BUCHAREST, Romania, 16-Sep-2024 — /EuropaWire/ — Digi Communications N.V. (“DIGI”), one of the leading European telecommunications companies, listed on the Bucharest Stock Exchange, would like to inform the market that on 16 September 2024, the Company’s Romanian subsidiary, Digi Romania S.A., ISIN: XS2107451069 (Regulation S) and XS2107452380 (Rule 144A), Common Code: 210745106 (Regulation S) and 210745238 (Rule 144A), (the “Issuer”), issued the Notice of conditional full redemption regarding any and all outstanding aggregate principal amount of €450,000,000 2.50% Senior Secured Notes due in 2025 (the “Notes”). The Issuer thereby exercised its right to redeem the Notes on September 27, 2024, under the following main terms and conditions:

1. The redemption date for the Notes will be September 27, 2024 (the “Redemption Date”). The record date, on which any holder of Notes must hold any Notes to be entitled to the Redemption Price (as defined below), will be September 26, 2024.
2. The redemption price of the Notes is 000% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest from August 5, 2024 to (but excluding) the Redemption Date, and additional amounts, if any in accordance with the documentation regarding the Notes (the “Redemption Price”).
3. Any Definitive Registered Note (as defined in the documentation regarding the Notes) representing the Notes called for redemption must be surrendered to Citibank, N.A., London Branch as Paying Agent, at Citibank, N.A., London Branch, 25 Canada Square, Canary Wharf, London E14 5LB United Kingdom, Facsimile : +353 1 622 2212, Attention: Agency & Trust, to collect the Redemption Price.
4. Unless the Issuer defaults in making such redemption payment, interest on the Notes called for redemption shall cease to accrue on and after the Redemption Date.
5. The Notes will be redeemed in accordance with the terms and conditions of the documentation regarding the Notes. The Issuer’s obligation to redeem any of the Notes on the Redemption Date is conditioned upon a financing condition which has already been fulfilled at the date of this report.

About Digi Communications N.V.

We are a European leader in geographically-focused telecommunication solutions, based on the number of revenue generating units (“RGUs”) and a leading provider of telecommunication services in Romania and Spain, with a presence also in Italy, Portugal and Belgium.

Contacts:

For Digi Communications NV
Phone no: +4031 400 4444
investor.relations@digi-communications.ro

Website:

Logo:

Digi Communications NV logo

FAQs 

1. What did Digi Communications N.V. announce?

Digi Communications N.V. announced that its Romanian subsidiary, Digi Romania S.A., will redeem its €450 million Senior Secured Notes due in 2025.

2. What are the Senior Secured Notes being redeemed?

The Senior Secured Notes are €450 million worth of 2.50% bonds issued by Digi Romania S.A. due to mature in 2025.

3. When is the redemption date for the notes?

The redemption date is set for September 27, 2024.

4. Who is eligible for the redemption?

Noteholders who hold the notes by the record date of September 26, 2024, are eligible for redemption.

5. What is the redemption price for the notes?

The redemption price will be 100% of the principal amount of the notes, plus any accrued and unpaid interest up to, but excluding, September 27, 2024.

6. Where do noteholders need to surrender their notes for redemption?

Noteholders must surrender their notes to Citibank, N.A., London Branch, acting as the Paying Agent, at its office in Canary Wharf, London.

7. Will interest on the notes continue after the redemption date?

No, interest on the redeemed notes will cease to accrue after the redemption date unless the issuer defaults on the payment.

8. Are there any conditions for the redemption to occur?

Yes, the redemption was conditioned on certain financing conditions, which have already been fulfilled by the time of the announcement.

9. What happens if the issuer defaults on the payment?

If the issuer defaults on the payment, interest may continue to accrue after the redemption date.

10. Who is Digi Communications N.V.?

Digi Communications N.V. is a European leader in telecommunications, operating primarily in Romania and Spain, with additional operations in Italy, Portugal, and Belgium.

SOURCE: Digi Communications NV