EM-focused Millicom (Tigo) plans to offer senior notes due 2032

By Marisa Wong

Los Angeles, March 25 – Millicom International Cellular SA has begun a private offering of senior notes due 2032, according to a press release.

Proceeds from the Rule 144A and Regulation S offering will be used in part to repay debt outstanding under the company’s DNB loans. Any remaining proceeds will be used to repay, redeem, retire or repurchase other debt and for other general corporate purposes.

The DNB loans consist of a $100 million unsecured credit agreement due 2026 with DNB Sweden AB as administrative agent and initial lender and a $100 million unsecured credit agreement of subsidiary Telemovil El Salvador due 2026, with the subsidiary as borrower and the parent as guarantor, with DNB Sweden as administrative agent and initial lender.

Millicom (Tigo) is a Luxembourg-based provider of cable and mobile services to customers in Latin America and Africa.

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