BKM | Berkemeyer (“BKM”) advised Telefónica Celular del Paraguay S.A.E. (“Tigo Paraguay”), a Millicom subsidiary, on the Tender Offer to purchase for cash up to US$55 million in aggregate principal amount of its 5.875% Senior Notes due 2027. Such bonds were issued by Tigo Paraguay in April 2019 in the international capital markets under Rule 144A and Regulation S of the United States. The final payment was made on December 6, 2022.
BKM advised Tigo Paraguay, along with the New York office of Davis Polk & Wardwell LLP (international legal advisors to Tigo Paraguay) in all aspects related to Paraguayan law in connection with the Tender Offer, including the review and update of the Offer to Purchase, the Dealer Manager Agreement and the Press Release, the analysis of tax implications of the transaction, and the issuance of a legal opinion. In addition, BKM advised on the required corporate authorizations of Tigo Paraguay.
Citigroup Global Markets Inc. and Scotia Capital (USA) Inc. acted as the dealer managers.
The BKM team included partner Manuel Arias, senior associates Mauro Mascareño and Alvaro Rojas, and associates Rodrigo Gómez Sánchez and Gastón Segovia.
We thank Tigo Paraguay for renewing its trust in BKM and we extend our congratulations on the successful closing of the transaction.