Swedish telecom group, Millicom International Cellular S.A. said its subsidiary Colombia Movil has raised USD300 million
Millicom said the loan, denominated in US dollars, carries an interest rate of 250 basis points over LIBOR and has an average maturity of 4.5 years.
The Colombian unit of the group will use the proceeds to repay an inter-company loan from Millicom, which in turn plans to use the funds to reduce holding company debt and for general corporate purposes.
Millicom disclosed that the facility was led by JPMorgan Chase Bank, N.A. and The Bank of Nova Scotia as Joint Lead
Arrangers and Bookrunners.
Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2016, Millicom generated revenue of USD 6.25 billion and EBITDA of USD 2.17 billion.