Standard Bank Group and J.P. Morgan have acted as joint global coordinators and joint bookrunners for the transaction of a US$500m 144A/Regulation S bond issue by Millicom International Cellular S.A. (Millicom), which closed 22 May 2013. BNP Paribas also acted as Joint Bookrunner for the transaction.
Millicom is an emerging markets focused mobile and digital communications group, with operations in Africa and Latin America. It is publicly listed on the Nasdaq OMX stock exchange in Stockholm, Sweden. Through their service brand Tigo, which operates in six countries in sub-Saharan Africa as well as in Latin America, they connect approximately 45million customers, primarily through their mobile devices.
The proceeds of the transaction will be used by Millicom’s African subsidiaries for refinancing existing debt, capital expenditure and for general corporate purposes.
Florian von Hartig, Global Head of Debt Primary Markets, at Standard Bank Group, says: “This transaction demonstrates Standard Bank’s expertise in Africa across the debt capital markets product and telecoms sector. We are proud to have helped close this landmark transaction.”
Nina Triantis, Global Head of Telecoms and Media at Standard Bank Group adds: “Millicom is a leading operator in the telecoms sector in Africa and across other emerging markets. The transaction cements our relationship with a key client of Standard Bank, built over several years.”