Orrick Advises Millicom in $500 Million Bond Issuance, Tender Offer and Redemption

Orrick advised leading emerging markets telecom and digital media company Millicom International Cellular in its issue of a $500 million, 10-year, 5.125% bond issued under Rule 144A/Regulation S, and its $600 million tender and redemption of its existing 6.625% bonds.

Under the Tigo brand, Millicom provides mobile and fixed communications services, including voice, high-speed data, cable television, mobile financial services and business solutions, across Latin America and Africa. Orrick is a long-term adviser to Millicom on a variety of strategic transactions, including previous bond issues and a $600 million syndicated revolving credit facility earlier this year.

The London-based Orrick team advising Millicom in this transaction was led by Nell Scott and Sushila Nayak and included Katrina Murphy, Siddharth Fresa, Carolina Barzola and Adeola Adeyemi, with support from Luisa Muskus, Andrea Memovic and Mason Harry in Houston.