Davis Polk & Wardwell advised Digicel Limited (Digicel) in connection with its US$335 million offering of 12% senior notes due 2014, which were issued pursuant to Regulation S and Rule 144A under the Securities Act of 1933. Digicel is the fastest-growing provider of wireless communications services in the Caribbean region, operating in 24 local markets.

In connection with the offering, Davis Polk also advised Digicel in connection with its entry into an agreement to purchase, for $215 million, an approximately 40% minority interest in Digicel Holdings (Central America) Limited (DHCAL), a sister company of Digicel. DHCAL successfully launched wireless communications services operations in Honduras and Panama in late 2008. The purchase price for the acquisition will be funded out of proceeds from the notes offering.

The Davis Polk corporate team included partner Michael Kaplan and associates Jean Weng, James E. Elworth, Sarah L. DeBergalis and Pawel Szaja (not yet admitted). Partner Lucy W. Farr and associate Arie Rubenstein provided tax advice. Associate Rachel J. Strum provided 1940 Act advice. Luis Celestino Martos was the legal assistant for the transaction. All members of the Davis Polk team are based in the New York office.