Millicom (Tigo) subsidiary Telefónica Celular del Paraguay S.A.E. announces its intent to partially redeem Senior Notes due 2027

Rhea-AI Summary

Millicom's (NASDAQ:TIGO) subsidiary Telefónica Celular del Paraguay S.A.E (Telecel Paraguay) has announced plans to partially redeem its 5.875% Senior Unsecured Notes due 2027. The company will redeem $150 million of the notes on September 15, 2024.

The redemption price will be set at 100% of the principal amount, plus accrued and unpaid interest and any Additional Amounts up to the redemption date. The formal notice of redemption will be distributed to noteholders according to the indenture requirements.

["Early debt management initiative showing proactive financial planning", "Full principal value redemption (100%) demonstrates financial stability"]

Positive

• None.

Negative

• Reduction in long-term debt financing could impact future financial flexibility

Luxembourg, September 5, 2025 – Millicom’s subsidiary Telefónica Celular del Paraguay S.A.E (“Telecel Paraguay”) today announced its intent to redeem $150,000,000 aggregate principal amount of its 5.875% Senior Unsecured Notes due 2027 (the “Notes”) on September 15, 2024 (the “Redemption Date”). A notice of redemption will be sent to the holders of the Notes in accordance with the requirements of the indenture governing the Notes (the “Indenture”). Pursuant to the terms of the Indenture, the Notes will be redeemed at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and Additional Amounts (if any) to, but excluding, the Redemption Date.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security nor a notice of redemption under the Indenture and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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For further information, please contact

Press: Sofía Corral, Director Corporate Communications press@millicom.com

Investors: investors@millicom.com

About Millicom

Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, highspeed data, voice, and business-to-business solutions such as cloud and security. As of June 30, 2025, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.

About Telefónica Celular del Paraguay S.A.E.

Telefónica Celular del Paraguay S.A.E. is a wholly-owned subsidiary of Millicom International Cellular S.A. under the brand Tigo, which employs approximately 3,100 people and is the leading provider of communications, information, entertainment and solutions services in Paraguay through the provision of mobile telephony, cable and broadband internet. 

FAQ

What is the amount of Senior Notes that TIGO's subsidiary plans to redeem in 2024?

Telecel Paraguay plans to redeem $150 million of its 5.875% Senior Unsecured Notes due 2027.

When is the redemption date for TIGO's subsidiary Senior Notes?

The redemption date is set for September 15, 2024.

What is the redemption price for TIGO's subsidiary Senior Notes?

The notes will be redeemed at 100% of the principal amount, plus accrued and unpaid interest and Additional Amounts.

When were TIGO's subsidiary Senior Notes originally set to mature?

The Senior Unsecured Notes were originally set to mature in 2027.

What is the interest rate on TIGO's subsidiary Senior Notes being redeemed?

The Senior Notes carry an interest rate of 5.875%.