Millicom prices its $207 million bond

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Millicom International Cellular S.A., has successfully priced a SEK 2 billion senior unsecured sustainability bond.

The fundraising is under its inaugural Sustainability Bond Framework. The senior unsecured bond due 2024 was significantly oversubscribed and carries a floating coupon priced at 3m Stibor+235bps. The bond is intended to be issued on May 15, 2019, and listed on the Nasdaq Stockholm sustainable bond list.

The bond is rated Ba1 (Stable) by Moody’s and BB+ (Stable) by Fitch

Millicom said it intends to use the net proceeds of the bond in accordance with the Sustainability Bond Framework which includes both environmental and social investments such as in energy efficiencies, and the expansion of its fixed and mobile networks.

The funds will support Millicom’s efforts to strengthen its positive impact on society and its customer focus by reducing its climate footprint and increasing digital and financial inclusion in the markets where it operates.

DNB Markets and Nordea acted as Joint Bookrunners.