Millicom Completes $450M Senior Notes Offering

TL;DR

Millicom just dropped $450M in new debt, due 2032. Big financing move.

AI Summary

Millicom International Cellular S.A. announced on April 2, 2024, the completion of its private offering for $450 million in 7.375% Senior Notes due 2032. This issuance is exempt from the registration requirements of the Securities Act of 1933.

Why It Matters

This debt issuance provides Millicom with capital, potentially for operational expansion or refinancing existing debt, impacting its financial structure and future investment capacity.

Risk Assessment

Risk Level: medium — Issuing new debt increases financial leverage and interest expenses, which can be a risk if the company's cash flows are not sufficient to cover payments.

Key Numbers

• $450 million — Senior Notes Issued (Represents the total principal amount raised in the offering.)
• 7.375% — Interest Rate (The annual interest rate on the newly issued Senior Notes.)
• 2032 — Maturity Date (The year the Senior Notes are due to be repaid.)

Key Players & Entities

• Millicom International Cellular S.A. (company) — Issuer of the Senior Notes
• 7.375% (dollar_amount) — Interest rate on the Senior Notes
• $450 million (dollar_amount) — Principal amount of the Senior Notes
• 2032 (date) — Maturity year of the Senior Notes
• April 2, 2024 (date) — Date of the press release and completion of the offering

FAQ

Key Financial Figures

• $450 million — com (Tigo) completes issuance of 7.375% $450 million Senior Notes due 2032 Luxembourg, Apr
• $200 million — issuance of the Notes to repay in full $200 million of indebtedness outstanding under the D
• $100 million — rposes. The DNB Loans consist of (i) a $100 million unsecured credit agreement of Millicom

Filing Documents

• dp209316_6k.htm (6-K) — 22KB
• image_001.jpg (GRAPHIC) — 4KB
• image_002.jpg (GRAPHIC) — 5KB
• 0000950103-24-004799.txt ( ) — 35KB

Forward-looking statements

Forward-looking statements This press release contains forward-looking release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events. -END- For further information, please contact Press: Sofía Corral, Communications Director 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 December 31, 2023, Millicom, including its Honduras Joint Venture, employed approximately 16,500 people and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 13 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MILLICOM INTERNATIONAL CELLULAR S.A. (Registrant) By: /s/ Salvador Escalón Name: Salvador Escalón Title: Executive Vice President, Chief Legal and Compliance Officer Date: April 2, 2024

View Full Filing

View this 6-K filing on SEC EDGAR