Paraguayan telco Telecel, which operates as Tigo and is owned by Millicom, has mandated Citigroup and Morgan Stanley for a new bond issue, TelecomFinance understands. The banks are currently pitching to investors in the US, London, Chile and…
Paraguayan telco Telecel, which operates as Tigo and is owned by Millicom, has mandated Citigroup and Morgan Stanley for a new bond issue, TelecomFinance understands. The banks are currently pitching to investors in the US, London, Chile and Peru.
Ratings agency Fitch issued a BB rating for the planned US$300m 10-year senior unsecured notes. The issue will be used to repay a US$150m bridge loan, with the remainder going towards capital expenditures and potential spectrum license costs.
The bridge loan was raised for the US$150m purchase of Cablevision Paraguay, which was agreed in July and closed in October.
