Hogan Lovells advises Millicom on its US$746 million rights offering

Press releases | 11 August 2022

Luxembourg, 11 August 2022 – Hogan Lovells has advised on the approximately US$ 746 million* rights offering of Millicom International Cellular S.A. (“Millicom”). The rights offering was fully subscribed, and a total of 70,357,088 new shares were issued, including shares represented by Swedish Depositary Receipts, increasing Millicom’s share capital by approximately US$ 105 million.

Millicom intends to use the net proceeds to repay the $350 million outstanding principal amount of the bridge loan that financed the acquisition of the remaining 45% equity stake in Millicom’s joint venture business in Guatemala, and the excess proceeds will be used for general corporate purpose.

The cross-practice team assisting on this transaction was led by Alexander Koch (corporate partner), with key support from Ariane Mehrshahi Marks (capital markets counsel), Emmanuel Lamaud, Kim Tang (both corporate senior associates), Agnes Merz (capital markets senior associate), Gérard Neiens (tax partner), and Jean-Philippe Monmousseau (tax counsel).

Please see the following press release for further details: https://millicom.gcs-web.com/news-releases/news-release-details/millicom-tigos-rights-offering-fully-subscribed

*Before deducting underwriting commissions and other offering expenses, and based on the SEK-U.S. dollar exchange rate published by the Swedish Central Bank on May 17, 2022.