Millicom International Cellular S.A. announced Thursday the success of its SEK bonds, with holders of 84.2%, representing SEK 1,684,000,000 in aggregate principal amount of all SEK bonds, accepting the company's offers in either the Early Tender Offer and the Regular Tender Offer.
In the Regular Tender Offer, Millicom offered to holders of its SEK 250,000,000 5.125% Senior Unsecured Fixed Rate Notes due 2017 and its SEK 1,750,000,000 STIBOR +3.500% Senior Unsecured Floating Rate Notes due 2017 to tender for purchase by Millicom any and all of their Notes by 16:00 CET on 27 April 2016.
At the Regular Tender Deadline, SEK 17,000,000 in aggregate principal amount of the Fixed Rate Notes and SEK 96,000,000 in aggregate principal amount of the Floating Rate Notes had been validly tendered. Millicom announced it has decided to accept for purchase in full all such validly tendered Notes and will pay to such holders 105.8% of the nominal amount of the Fixed Rate Notes and 102.8% of the nominal amount of the Floating Rate Notes, in each case together with any accrued interest. In the Early Tender Offer, which settled on 21 April 2016, Millicom had accepted for purchase SEK 169,000,000 and SEK 1,402,000,000 in aggregate principal amount of Fixed Rate Notes and Floating Rate Notes, respectively.
The Regular Tender Offer is expected to settle on 2 May 2016. After settlement, SEK 64,000,000 in aggregate principal amount of the Fixed Rate Notes (25.6%) and SEK 252,000,000 in aggregate principal amount of the Floating Rate Notes (14.4%) will remain outstanding.
