Millicom announced that it has completed a revolving credit facility of $500 million for Millicom International Cellular. The facility comprises a two-year, $200 million tenor tranche with a one-year extension option, and a three-year, $300 million tenor tranche with two one-year extension options.
The revolver provides Millicom an increased flexibility in managing its cash balances and will be used for general corporate purposes.
Tim Pennington, Millicom’s Group CFO commented, “We are pleased with the strong commitment shown towards Millicom by these twelve reputable international banks.”
The loan was arranged by mandated lead arrangers & bookrunners: BNP Paribas, Citi, DNB and Scotiabank. In addition, eight mandated lead arrangers joined the facility during syndication: Banco Itaù BBA, Barclays, Credit Agricole CIB, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nordea and RBS.
Millicom is an international telecommunications and media company dedicated to emerging markets in Latin America and Africa.