Millicom wraps tender offer for $139 million of El Salvador-based Telemovil's 2017 bonds

By Marisa Wong

Madison, Wis., April 15 - Millicom International Cellular SA announced it completed a partial cash tender offer for the 2017 bond issued by its subsidiary in El Salvador, Telemovil Finance Co Ltd.

The company tendered for $139 million of the $450 million outstanding bonds.

The transaction is aimed at improving balance sheet efficiency, the company said.

Telemovil issued the 2017 bonds in October 2010.

Millicom is a Stockholm-based telecommunications and media company dedicated to emerging markets in Latin America and Africa.

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