Luxembourg, May 25, 2018
Millicom announces successful completion of consent solicitation for its $500,000,000 6.000% Senior Notes due 2025, and its $500,000,000 5.125% Senior Notes due 2028
Millicom International Cellular S.A. ("Millicom") today announces that it has received the requisite consents to amend certain terms of its $500,000,000 6.000% Senior Notes due 2025 (ISIN US600814AM98; CUSIP 600814AM9 and ISIN XS1204091588), and its $500,000,000 5.125% Senior Notes due 2028 (ISIN US600814AN71; CUSIP 600814AN7 and ISIN USL6388GAB60) (each, a "Series of Notes" and together, the "Notes"). The consent solicitation expired at 5:00 pm New York time on 24 May 2018 (the “Expiration Time”).
Millicom has been advised by D.F. King, the information and tabulation agent for the consent solicitation, that, at the Expiration Time, consents were validly delivered and not validly revoked in respect of more than a majority in aggregate principal amount of each Series of Notes. As a result, Millicom and Citibank N.A., London Branch, as the trustee under the indentures governing the Notes, will enter into amended and restated indentures implementing the amendments for each Series of Notes. In accordance with the consent solicitation statement, on or about 30 May 2018, Millicom will make a cash payment equal to $5 per $1,000 principal amount of the Notes to each holder of the Notes that validly delivered and did not revoke its consent prior to the Expiration Time.
Millicom sought consents from the holders of the Notes in order to introduce a customary Restricted Subsidiary and Unrestricted Subsidiary mechanic to allow for flexibility to operate subsidiaries outside the restricted group of subsidiaries and to make conforming amendments to certain defined terms and covenants in the indentures that reflect the potential designation of Unrestricted Subsidiaries. In addition, the amendments enable Millicom to elect to apply IFRS or U.S. GAAP as either may be in effect from time to time.
This press release will also be posted on the website of the Luxembourg Stock Exchange.
The information and tabulation agent for the consent solicitation is D.F. King. Any questions or requests for assistance may be directed to D.F. King, at +1 212 269 5550 (Banks and Brokers) or +1 866 207 2324 (All Others - US toll free) or +44 20 7920 9700, by e-mail to firstname.lastname@example.org, website: https://sites.dfkingltd.com/millicom.
BNP Paribas and J.P. Morgan have acted as solicitation agents in connection with the consent solicitation. Questions regarding the consent solicitation may be directed to BNP Paribas at 888 210 4358 (US toll free) or +1 212 841 3059 (collect) or by email to email@example.com, or to J.P. Morgan at +44 20 7134 2468, or by email to firstname.lastname@example.org.
This announcement does not constitute an offer to sell or issue, or the solicitation of an offer to buy or subscribe for, securities (including the Notes) in any jurisdiction.
For further information, please contact
Vivian Kobeh, Corporate Communications Director
+1 305 476 7352 / +1 305 302 2858
Michel Morin, VP Investor Relations
+352 277 59094
Mauricio Pinzon, Investor Relations Manager
Tel: +44 20 3249 2460
Millicom is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle services through its principal brand, Tigo. As of December 31st, 2017, Millicom employed more than 18,000 people and provided mobile services to approximately 51 million customers, with a cable footprint of more than 9 million homes passed. Founded in 1992, Millicom International Cellular SA is headquartered in Luxembourg and listed on Nasdaq Stockholm under the symbol MIC_SDB. In 2017, Millicom reported revenues of $6.0 billion and EBITDA of $2.2 billion.