MILLICOM (TIGO) ANNOUNCES OFFERING DEBT OBLIGATIONS OF TIGO PARAGUAY
Millicom announces an offer from Tigo Paraguay to purchase up to US$55,000,000 in aggregate principal amount of Telecel’s 5.875% Senior Notes due 2027
LUXEMBOURG, November 4 10:40 PM ET / November 5 3:40 AM ET – Millicom announced today that its Paraguayan operation, Telefónica Celular del Paraguay SAE (“Telecel”), has submitted a tender offer to purchase for cash (the “Tender Offer”) up to an aggregate nominal amount of US$55 million of its 5.875% seniority has Notes due 2027 (the “Notes”) (the amount, which may be changed by Telecel in its sole discretion, the “Maximum Amount”). The tender offer is being made pursuant to the terms of a tender offer dated November 4, 2022 (as amended or supplemented from time to time, the “Tender Offer”) and is subject to certain conditions described therein.
Schedule for the Takeover Offer
- Start of the tender offer: November 4, 2022
- Early Bid Time: 5:00 p.m. NYT on November 18, 2022
- Withdrawal Deadline: 5:00 PM NYT on November 18, 2022
- Expiration Time: 11:59 PM NYT on December 5, 2022
- Final Payment Date: Estimated December 6, 2022
Purpose of the Takeover Offer
The purpose of the tender offer is to purchase outstanding debt issued or acquired by Millicom or issued by a subsidiary and to reduce Millicom’s consolidated debt in accordance with the Company’s previously announced plans.
| title of the securities | Outstanding Principal Amount | Takeover bid consideration(1) | Early tender payment(1)(2) | Total Consideration(1)(3) |
| 5.875% Senior Notes due 2027 (CUSIP/ISIN: 87936V AB3 / US87936VAB36 (Rule 144A); P90475 AB3 / USP90475AB31 (Reg S)) |
$550,000,000.00 | $897.50 | $30.00 | $927.50 |
(1) Cash consideration per $1,000 principal amount of Notes validly tendered (and not validly withdrawn). Excluding accrued interest, if any, paid in addition to the consideration of the tender offer or…
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