Millicom (Tigo) subsidiary Telefónica Celular del Paraguay S.A.E. announces its intent to partially redeem Senior Notes due 2027

Rhea-AI Summary

Millicom's subsidiary, Telefónica Celular del Paraguay S.A.E (Telecel Paraguay), has announced its intention to partially redeem $150,000,000 of its 5.875% Senior Unsecured Notes due 2027. The redemption is scheduled for September 23, 2024. According to the terms of the indenture governing the Notes, the redemption price will be 100% of the principal amount, plus accrued and unpaid interest and Additional Amounts (if any) up to, but not including, the Redemption Date.

This announcement does not constitute an offer to sell or a solicitation to buy any security, nor does it serve as a formal notice of redemption under the Indenture. The company emphasizes that this action does not represent an offer, solicitation, or sale in any jurisdiction where such activities would be unlawful.

Positive

• Partial redemption of $150 million in Senior Notes
• Redemption at 100% of principal amount, indicating financial stability

Negative

• None.

Millicom (Tigo) subsidiary Telefónica Celular del Paraguay S.A.E. announces its intent to partially redeem Senior Notes due 2027

Luxembourg, September 13, 2024 – Millicom’s subsidiary Telefónica Celular del Paraguay S.A.E (“Telecel Paraguay”) today announces its intent to redeem $150,000,000 aggregate principal amount of its 5.875% Senior Unsecured Notes due 2027 (the “Notes”) on September 23, 2024 (the “Redemption Date”). A notice of redemption will be sent to the holders of the Notes in accordance with the requirements of the indenture governing the Notes (the “Indenture”). Pursuant to the terms of the Indenture, the Notes will be redeemed at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and Additional Amounts (if any) to, but excluding, the Redemption Date.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security nor a notice of redemption under the Indenture and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

-END-

For further information, please contact

Press: Sofía Corral, Director Corporate Communications press@millicom.com

Investors: Michel Morin, VP Investor Relations investors@millicom.com

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of June 30, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people, and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint of about 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

About Telefónica Celular del Paraguay S.A.E.

Telefónica Celular del Paraguay S.A.E. is a wholly-owned subsidiary of Millicom International Cellular S.A. under the brand Tigo, which employs approximately 3,100 people and is the leading provider of communications, information, entertainment and solutions services in Paraguay through the provision of mobile telephony, cable and broadband internet. 

FAQ

What is the amount of Senior Notes that Telecel Paraguay intends to redeem?

Telecel Paraguay intends to redeem $150,000,000 aggregate principal amount of its 5.875% Senior Unsecured Notes due 2027.

When is the Redemption Date for Telecel Paraguay's Senior Notes (TIGO)?

The Redemption Date for Telecel Paraguay's Senior Notes is September 23, 2024.

What is the redemption price for Telecel Paraguay's Senior Notes (TIGO)?

The redemption price is 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and Additional Amounts (if any) to, but excluding, the Redemption Date.

Does this announcement constitute an offer to sell or buy securities for Millicom (TIGO)?

No, this announcement does not constitute an offer to sell or a solicitation of an offer to buy any security, nor is it a notice of redemption under the Indenture.