Colombian Wireless Snares $125m Loan

Colombian Wireless Snares $125m Loan


Colombia Movil, operator of the wireless brand Tigo, has secured a $125m loan through its parent, Luxembourg-based Millicom. The 5-year facility through ABN AMRO pays Libor plus 450bp, according to a banker with knowledge of the transaction. Rather than syndicate the deal, ABN has agreed to sell pieces to institutional investors in northern Europe, leveraging Millicom’s status there. With about 10% of Colombia’s wireless market, Colombia Movil will use funds to continue expanding its network.

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