Millicom (Tigo) completes issuance of 7.375% $450 million Senior Notes due 2032
April 02 2024 - 8:03AM
Millicom (Tigo) completes issuance of
7.375% $450 million Senior Notes due 2032
Luxembourg, April 2, 2024 –
Millicom International Cellular S.A. (“Millicom”) today completed
the issuance of its 7.375% $450 million Senior Notes due 2032 (the
“Notes”) in a private offering that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”).
Millicom expects to use a portion of the net
proceeds from the issuance of the Notes to repay in full $200
million of indebtedness outstanding under the DNB Loans (as defined
below), with accrued interest. Millicom expects to use the
remaining net proceeds from the issuance of the Notes for the
repayment, redemption, retirement or repurchase of existing
indebtedness of Millicom and its subsidiaries and for other general
corporate purposes.
The DNB Loans consist of (i) a $100 million
unsecured credit agreement of Millicom due 2026, with DNB Sweden AB
as administrative agent and initial lender, and (ii) a $100 million
unsecured credit agreement of Telemóvil El Salvador due 2026, a
subsidiary of Millicom, as borrower, and Millicom, as guarantor,
with DNB Sweden AB as administrative agent and initial lender.
The Notes have been offered only to persons
reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act, and outside the
United States, only to non-U.S. investors pursuant to Regulation S.
The Notes will not be registered under the Securities Act or the
securities laws of any other jurisdiction and may not be offered or
sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act
and applicable state laws.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy any security and shall
not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale would be unlawful. This
press release is being issued pursuant to and in accordance with
Rule 135c under the Securities Act.
Forward-looking statements
This press release contains forward-looking
statements. Actual results may differ materially from those
reflected in the forward-looking statements. We undertake no
obligation to release publicly the result of any revisions to these
forward-looking statements which may be made to reflect events or
circumstances after the date hereof, including, without limitation,
changes in our business or acquisition strategy or planned capital
expenditures, or to reflect the occurrence of unanticipated events.
-END-
For further information, please
contact
Press: Sofía Corral, Communications Director
press@millicom.com |
Investors: Michel Morin, VP Investor
Relationsinvestors@millicom.com |
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm:
TIGO_SDB) is a leading provider of fixed and mobile
telecommunications services in Latin America. Through our TIGO® and
Tigo Business® brands, we provide a wide range of digital services
and products, including TIGO Money for mobile financial services,
TIGO Sports for local entertainment, TIGO ONEtv for pay TV,
high-speed data, voice, and business-to-business solutions such as
cloud and security. As of December 31, 2023, Millicom, including
its Honduras Joint Venture, employed approximately 16,500 people
and provided mobile and fiber-cable services through its digital
highways to more than 45 million customers, with a fiber-cable
footprint over 13 million homes passed. Founded in 1990, Millicom
International Cellular S.A. is headquartered in Luxembourg.
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