Millicom International Cellular SA (TIGO) has released an update.
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Millicom International Cellular S.A. is seeking to amend the terms of its senior notes to prevent a ‘Change of Control’ event following a potential acquisition by Atlas Luxco S.à r.l., which could become the majority shareholder. The proposed amendments would eliminate the requirement for Millicom to make a ‘Change of Control Payment’ to note holders despite a rating decline post-acquisition. Note holders are being offered a consent fee to approve the changes, with the consent solicitations being separate for each series of notes.
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