The Irish Times newspaper is reporting that Digicel Group offered to buy back some of its riskiest bonds.
The offer was reportedly made on Thursday.
These are bonds which hold a claim to a potential 49 per cent stake in Digicel in just over two and a half years.
The US$203 million worth of convertible notes, which are set to convert into a stake in Digicel in June 2023, were handed out earlier this year as part payment to certain types of bondholders.
These are bondholders who participated in a deal to wipe US$1.6 billion off the group's debt pile as part of a massive debt restructuring.
According to the Irish Times, there was a strong view among bondholders and analysts at the time of the massive debt overhaul that Digicel would seek to redeem these bonds before the conversion date.
The company is now offering to pay as much as US$10 million to buy back some of the bonds for as little as 20 cents on the dollar.
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