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Millicom Announces Early Participation Results of and Increases the Maximum Acceptance Amount for the Exchange Offer
Millicom Announces Early Participation Results of and Increases the Maximum Acceptance Amount for the Exchange Offer Luxembourg, September 22, 2021 – In
About this update from Millicom International Cellular S.a.
[{"type":"text","content":"Millicom Announces Early Participation Results of and Increases the Maximum Acceptance Amount for the Exchange Offer Luxembourg, September 22, 2021 – In connection with its previously-announced offer to exchange (the “Exchange Offer”) its outstanding 6.625% Senior Notes due 20261 (the “2026 Existing Notes” or “Old Notes”) for 4.500% Senior Notes due 2031 (the “New Notes”), Millicom International Cellular S.A. (the “Company”) (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) announces the results as of the Early Participation Date (as defined below) and increases the Maximum Acceptance Amount (as defined below) for the Exchange Offer to accept all 2026 Existing Notes that were validly tendered and not validly withdrawn by the Early Participation Date (as defined below). Early Participation Date Results The Early Participation Date with respect to the Exchange Offer occurred at 5:00 PM, New York City time, on September 21, 2021 (such time and date, the “Early Participation Date”). According to information provided by D.F. King, the information and exchange agent for the Exchange Offer (the “Information and Exchange Agent”), US$335,716,000 aggregate original principal amount of the Old Notes (representing US$302,144,400 aggregate outstanding principal amount of Old Notes, after applying the “Pool Factor” (as defined below)) were validly tendered and were not validly withdrawn prior to or at the Early Participation Date, resulting in the oversubscription of the Exchange Offer, as discussed below. As discussed in the offering memorandum related to the Exchange Offer, dated September 8, 2021 (the “Offering Memorandum”), in February 2021, the Company redeemed 10%, or US$50 million, of the then-outstanding aggregate principal amount of the Old Notes, which amount was recorded by Euroclear, Clearstream and DTC as a prepayment of principal. In accordance with the procedures of Euroclear, Clearstream and DTC, book-entry positions of the Old Notes reflect the aggregate original issued principal amount and a pool factor of 90% (the “Pool Factor”). The Old Notes trade with the Pool Factor, which means the percentage of the US$500,000,000 aggregate original principal amount of the Old Notes that remains outstanding after the impact of the Company’s optional redemption of US$50 million in Old Notes in February 2021 (such redemption, the “Partial...