On Friday, October 1, Tigo (Telecel S.AE) placed corporate bonds for a value of G. 400,000 million of the G2 Global Issuance Program through the Asunción Stock Exchange, marking its presence in the Paraguayan stock market with its second Global Issuance Program of these securities.
The issue was made through several brokerage firms, Cadiem was in charge of the placement of G. 120,000 million, all of which was placed.
Ramiro Pascual, CFO of Tigo Paraguay, commented on the issuance, "This program is aimed at restructuring financial debt, replacing dollar-denominated debt with guaraní-denominated debt, in order to reduce exposure to the exchange rate and achieve a favorable impact on the company's results"..
Feller Rate rated Telecel S.A.E.'s new G2 bond issuance program at AAApy and maintained its "Stable" rating. The AAApy rating assigned to Telecel's creditworthiness and bonds responds to its high degree of linkage with its parent company, Millicom International Cellular SA (Millicom), rated BB+ on a global scale.
Elías Gelay, Chairman of CADIEM. He said "Cadiem is very grateful to Tigo and to our customers for the trust they have placed in us for the broadcasting.
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