Luxembourg-based telco Millicom announced today that its Paraguayan subsidiary Telecel, which operates as Tigo, has issued a US$300m bond.
The ten-year notes are priced at par and carry a fixed coupon of 6.75%. The offering, which will be listed in…
Luxembourg-based telco Millicom announced today that its Paraguayan subsidiary Telecel, which operates as Tigo, has issued a US$300m bond.
The ten-year notes are priced at par and carry a fixed coupon of 6.75%. The offering, which will be listed in Luxembourg, was more than 12 times oversubscribed, according to a statement from Millicom.
“Tigo Paraguay intends to use the proceeds for general corporate purposes, including financing investments in cable and mobile infrastructure,” added the statement.
Millicom has been looking to expand in the Paraguayan market in recent times. TelecomFinance reported in October that the telco had completed its acquisition of Cablevision Paraguay for US$150m from Argentine conglomerate Grupo Clarin.
For the past 20 years, Paraguay has been a test-bed for us when it comes to offering innovative services,” said Mikael Grahne, CEO of Millicom, about the transaction earlier in the year.
TelecomFinance reported earlier this week that Citigroup and Morgan Stanley were mandated to handle the issue.
