Cases & Deals

Millicom International Cellular obtains $600 million ESG-linked revolving credit facility

Client(s) Millicom International Cellular S.A.

Jones Day advised Millicom International Cellular S.A. in connection with a 5-year, $600 million revolving credit facility (the “Facility”) with a syndicate of 11 commercial banks. The Facility includes provisions that incentivize Millicom and certain of its operating subsidiaries in Latin America to meet predetermined sustainability targets. The Facility is the first ESG-linked facility for Millicom and its subsidiaries and is among the first commercial bank facilities in Latin America to incorporate sustainability-linked pricing. The Facility will replace Millicom’s existing English law-governed multi-currency revolving credit facility.

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing highspeed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2019, Millicom operating subsidiaries and joint ventures employed more than 22,000 people and provided mobile services to approximately 52 million customers, with a cable footprint of more than 11 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.