Digicel turns from debt repair to expansion under new ownership

Once carrying about US$7 billion in debt, the Caribbean and Pacific operator has cut its load to roughly US$2.7 billion and says the focus has shifted to growth.

A 2022 debt-for-equity swap cut US$1.7 billion of debt and moved control from founder Denis O'Brien to bondholders. The group now serves about 10 million customers across 25 markets, and launched a major bond offering and refinancing in July 2025.

Chief executive Marcelo Cataldo, in post since early 2024, says the company has moved from balance-sheet repair to network expansion. For a region where Digicel is critical infrastructure, its footing matters well beyond its own accounts.