Millicom Announces Successful Completion of Consent Solicitation for its $500,000,000 6.000% Senior Notes due 2025, and its $500,000,000 5.125% Senior Notes due 2028

LUXEMBOURG, May 25, 2018 /PRNewswire/ -- Millicom International Cellular S.A. ("Millicom") today announces that it has received the requisite consents to amend certain terms of its $500,000,000 6.000% Senior Notes due 2025 (ISIN US600814AM98; CUSIP 600814AM9 and ISIN XS1204091588), and its $500,000,000 5.125% Senior Notes due 2028 (ISIN US600814AN71; CUSIP 600814AN7 and ISIN USL6388GAB60) (each, a "Series of Notes" and together, the "Notes"). The consent solicitation expired at 5:00 pm New York time on 24 May 2018 (the "Expiration Time").

Millicom has been advised by D.F. King, the information and tabulation agent for the consent solicitation, that, at the Expiration Time, consents were validly delivered and not validly revoked in respect of more than a majority in aggregate principal amount of each Series of Notes. As a result, Millicom and Citibank N.A., London Branch, as the trustee under the indentures governing the Notes, will enter into amended and restated indentures implementing the amendments for each Series of Notes. In accordance with the consent solicitation statement, on or about 30 May 2018, Millicom will make a cash payment equal to $5 per $1,000 principal amount of the Notes to each holder of the Notes that validly delivered and did not revoke its consent prior to the Expiration Time.

Millicom sought consents from the holders of the Notes in order to introduce a customary Restricted Subsidiary and Unrestricted Subsidiary mechanic to allow for flexibility to operate subsidiaries outside the restricted group of subsidiaries and to make conforming amendments to certaintt defined terms and covenants in the indentures that reflect the potential designation of Unrestricted Subsidiaries. In addition, the amendments enable Millicom to elect to apply IFRS or U.S. GAAP as either may be in effect from time to time.

This press release will also be posted on the website of the Luxembourg Stock Exchange.

The information and tabulation agent for the consent solicitation is D.F. King. Any questions or requests for assistance may be directed to D.F. King, at [phone] (Banks and Brokers) or [phone] (All Others - US toll free) or [phone], by e-mail to [e-mail], website: https://sites.dfkingltd.com/millicom.

BNP Paribas and J.P. Morgan have acted as solicitation agents in connection with the consent solicitation. Questions regarding the consent solicitation may be directed to BNP Paribas at 888-210-4358 (US toll free) or [phone] (collect) or by email to [e-mail], or to J.P. Morgan at [phone], or by email to [e-mail].

This announcement does not constitute an offer to sell or issue, or the solicitation of an offer to buy or subscribe for, securities (including the Notes) in any jurisdiction.

For further information, please contact:
Press:
Vivian Kobeh,
Corporate Communications Director
[phone] / [phone]
[e-mail]

Investors: 
Michel Morin,
VP Investor Relations
[phone]
[e-mail]

Mauricio Pinzon,
Investor Relations Manager
Tel: [phone]
[e-mail]

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http://news.cision.com/millicom-international-cellular/r/luxembourg--may-25--2018,c2531151

The following files are available for download:

http://mb.cision.com/Main/950/2531151/848081.pdf

Millicom announces successful completion of consent solicitation for its $500,000,000 6.000% Senior Notes due 2025, and its $500,000,000 5.125% Senior Notes due 2028