Digicel Ltd yesterday said it had sold $300 million in corporate bonds.

The transaction was a reopening of the 8.25 percent senior notes due 2017 first issued in December 2009. The bonds were priced at 102.75 to yield 7.54 percent.

Wireless services provider Digicel operates in the local telecommuications market, but Bermuda is also the group’s corporate domicile.

The use of proceeds of this offering will be for general corporate purposes, including capital expenditure and debt service.

Colm Delves, Digicel Group’s chief executive, said: “The funds raised will in part support the planned expansion of our business in Haiti which delivered strong year on year revenue growth for the six months ended September 30, 2010.”

He added: “I am very pleased with the positive response to this transaction, which was more than two times over-subscribed with participation from over 75 well-established high yield and emerging market accounts.”

Credit Suisse, Citi, J.P. Morgan, Deutsche Bank, Barclays Capital and Davy acted as initial purchasers on the bond offering.

After over nine years of operation, Digicel Group Limited has 11 million customers across its 32 markets in the Caribbean, Central America and the Pacific.