Millicom Paraguay subsidiary taps 2027s

By Oliver West
22 Jan 2020

Telefónica Celular del Paraguay (TeleCel), the Paraguayan subsidiary of pan-EM telecoms group Millicom International Cellular, took advantage of a buzzing bond market to add $250m on Tuesday to a bond issued last April.

Global coordinator BNP Paribas set initial price thoughts at a dollar price of 105.75 for a reopening of TeleCel’s Ba1/BB+ rated 5.875% April 2027s.

With $300m outstanding of the original deal, the tap offered investors an increase in liquidity in a rare Paraguayan corporate bond, and it is ...

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