New Issue: Millicom prices $800 million eight-year notes to at par to yield 6 5/8%

By Paul A. Harris

Portland, Ore., Oct. 9 - Millicom International Cellular SA priced an $800 million issue of eight-year senior notes (Ba2/BB+) at par to yield 6 5/8%, according to an informed source.

The yield printed 12.5 basis points inside of yield talk set in the 6 7/8% area.

Joint bookrunner BNP Paribas will bill and deliver. Citigroup and JPMorgan were the joint bookrunners.

Proceeds will be used to reinforce the company's stake in a Colombia-based asset.

Millicom is a Luxembourg-based telecommunications group.

Issuer:	Millicom International Cellular SA
Amount:	$800 million
Maturity:	Oct. 15, 2021
Securities:	Senior notes
Bookrunners:	BNP Paribas (bill and deliver), Citigroup, JPMorgan
Coupon:	6 5/8%
Price:	Par
Yield:	6 5/8%
Spread:	429.5 bps
Call features:	Make-whole call at Treasuries plus 50 bps until Oct. 15, 2017, then callable at 103.313, 101.656, par on and after Oct. 15, 2019
Equity clawback:	35% at 106.625 until Oct 15, 2016
Investor put:	101% upon change of control
Trade date:	Oct. 9
Settlement date:	Oct. 16
Ratings:	Moody's: Ba2
	Standard & Poor's: BB+
Distribution:	Rule 144A and Regulation S with registration rights
Marketing:	Roadshow

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.