White & Case Advises Telefónica Celular Del Paraguay S.A. on Its US$300 Million Notes Issuance

Press Release
1 min read

Global law firm White & Case LLP has advised Telefónica Celular del Paraguay S.A. on the issuance of US$300 million of its 5.875% senior unsecured notes due 2027 and the settlement of its tender offer for its 6.750% senior unsecured notes due 2022.

The company used the net proceeds of the offering to fund the concurrent cash tender offer for any and all of the US$300 million outstanding aggregate principal amount of its 6.750% senior unsecured notes due 2022 and to fund the redemption of any existing senior notes due 2022 that remained outstanding as of April 5, 2019.

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

The White & Case team that advised on the transaction was led by partner Taisa Markus (New York) and included partners Carlos Viana (Miami) and Ray Simon (New York - Tax), and associates Stephanie Rohlfs and Yana Shneyderman (both New York). The legal team at the issuer included Telecel del Paraguay general counsel Miguel Almada, Millicom general counsel Salvador Escalon, corporate finance director Laura Villaveces and VP Legal (LATAM) Karen Salas.

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