Telecommunications group Digicel has agreed a deal with its bond holders that will see $1.9 billion of debt mature two years later than previously planned.

The company, which is owned by Denis O'Brien, has been in negotiations with bond holders for several months as it sought to restructure its $6.7 billion debt pile. 

Digicel had said in August that it was looking for bondholders owed $2 billion in October 2020 to swap them for similar notes due in 2022 and carrying the same interest rate of 8.25%.

The company also offered holders of $1 billion of notes due in 2022 to swap their investments for 2024 bonds, carrying the same rate of 7.125%.

Digicel has operations in 31 markets in the Caribbean, Central America and Asia Pacific.