Millicom buys back $57 million 11% notes, to call $110 million

New York, Aug. 15 - Millicom International Cellular SA said it bought back $57 million of its 11% senior notes due 2006 and will now call $110 million of the notes for redemption.

The buyback was made in private transactions, the Bertrange, Luxembourg telecommunications investment company said.

Millicom said it funded the buyback and will fund the redemption with proceeds from its recent mandatory exchangeable bond offering. It has already repaid its bank facility and prepaid interest on the exchangeables with the proceeds.

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