Project Finance 4 Mobile Telephony Papua New Guinea

International Business News shows a Project consisting of the expansion of Digicel PNG Limited’s cellular telephone network in Papua New Guinea, which was granted a mobile license in 2007. This Project will allow the Company to continue to expand geographically and have population coverage throughout the country plus will expand its products and services (including 3G).

Digicel PNG is a wholly-owned subsidiary of Digicel Pacific Ltd (“DPL”). DPL and its founder, Denis O’Brien, are the sponsors. DPL is a holding company that in turn is 100% owned by Digicel Group Ltd. (“DGL”). DGL holds all of Digicel’s assets in the Pacific Islands, the Caribbean and Central America and provides cellular services across 32 markets today for over 11.5 million subscribers.

Total project cost is estimated at approximately $96.4 million. Hindmarsh LLC t/a Hindmarsh Finance proposed an IFC investment consiting of a senior loan for its own account of up to $26.8 million.

The Project is headquartered in Papua New Guinea, providing mobile telecommunication services to both urban and rural areas of the Country.

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