October 12, 2018 |
Swedish-listed telecom operator Millicom tackled difficult market conditions on Thursday to price a new eight-year, $500m non-call three bond at par, tightening yield by 25bp from initial price talk through to launch.
Millicom, which operates the Tigo brand in Latin America, sought the debt to help it pay for an 80% stake in Panama's Cable Onda, a $1bn acquisition the company agreed on last Sunday.
While Latin America's bond market showed signs of improvement in recent weeks, US Treasuries ballo
LatAm telecom rides a heavy orderbook to reel in yield by 25bp despite a dismal day for US Treasuries