|Over a week ago|
Millicom upgraded to Buy from Neutral at New Street » 06:2811/1611/16/21
New Street analyst Soomit…
New Street analyst Soomit Datta upgraded Millicom to Buy from Neutral.
Millicom upgraded to Buy from Neutral at New Street » 05:0711/1611/16/21
New Street analyst Soomit…
New Street analyst Soomit Datta upgraded Millicom International Cellular to Buy from Neutral with a $48 price target.
|Over a month ago|
Millicom announces early participation results for exchange offer » 07:1009/2209/22/21
In connection with its…
In connection with its previously-announced offer to exchange its outstanding 6.625% Senior Notes due 2026 for 4.500% Senior Notes due 2031, Millicom International Cellular announces the results as of the Early Participation Date and increases the Maximum Acceptance Amount for the Exchange Offer to accept all 2026 Existing Notes that were validly tendered and not validly withdrawn by the Early Participation Date. The Early Participation Date with respect to the Exchange Offer occurred at 5:00 PM, New York City time, on September 21, 2021. According to information provided by D.F. King, the information and exchange agent for the Exchange Offer, US$335,716,000 aggregate original principal amount of the Old Notes, were validly tendered and were not validly withdrawn prior to or at the Early Participation Date, resulting in the oversubscription of the Exchange Offer. As discussed in the offering memorandum related to the Exchange Offer, dated September 8, 2021, in February 2021, the Company redeemed 10%, or US$50 million, of the then-outstanding aggregate principal amount of the Old Notes, which amount was recorded by Euroclear, Clearstream and DTC as a prepayment of principal. In accordance with the procedures of Euroclear, Clearstream and DTC, book-entry positions of the Old Notes reflect the aggregate original issued principal amount and a pool factor of 90%. The Old Notes trade with the Pool Factor, which means the percentage of the US$500,000,000 aggregate original principal amount of the Old Notes that remains outstanding after the impact of the Company's optional redemption of US$50 million in Old Notes in February 2021, which equals 90%. References to the "original" principal amount of the Old Notes refer to the US$500 million aggregate original principal amount of the Old Notes issued in October 2018, or portions thereof, without giving effect to the Partial Redemption or the Pool Factor. Holders of the Old Notes validly tendered and not validly withdrawn by the Early Participation Date are eligible to receive $1,018.12 in principal amount of New Notes per US$1,000 in outstanding principal amount on the Old Notes validly tendered and accepted for exchange pursuant to the terms of the Offering Memorandum. The principal amount of New Notes to be issued in exchange for each US$1,000 outstanding principal amount of the Old Notes was calculated by dividing $1,053.75 of which US$31.05 constitutes an early participation payment, by $1,035.00. Concurrently with the Early Participation Date, the Withdrawal Date has also occurred. As a result, any Old Notes validly tendered on or after the date of the Early Participation Date may not be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law.
|Over a quarter ago|
Millicom selects Parallel Wireless for 4G O-RAN networks in Latin America » 07:1405/1205/12/21
Millicom selected Parallel Wireless, a U.S.-based Open RAN company delivering All G, cloud-native Open RAN solution, as a strategic partner to provide the first O-RAN compliant networks in Latin America enabling 4G. Millicom is a provider of cable and mobile services dedicated to emerging markets, primarily in Latin America, with nearly 55 million mobile customers. With this first phase of the partnership, Parallel Wireless will provide O-RAN compliant Open RAN solutions utilizing 700MHz spectrum, enabling broadband connectivity in Colombia. Working in partnership with Parallel Wireless, Millicom will be able to expand and grow wireless networks and provide digital services to customers in Latin America.
Millicom downgraded to Sector Perform on valuation at Scotiabank » 09:2105/1105/11/21
Scotiabank analyst Andres…
Scotiabank analyst Andres Coello downgraded Millicom (TIGO) to Sector Perform from Outperform with an unchanged price target of $44. The analyst cites valuation for the downgrade with the stock up 116% since the May 2020 lows. The analyst advises investors to switch long positions to America Movil (AMX).
Millicom downgraded to Sector Perform from Outperform at Scotiabank » 05:3205/1105/11/21
Scotiabank analyst Andres…
Scotiabank analyst Andres Coello downgraded Millicom to Sector Perform from Outperform with a $44 price target.
Millicom downgraded to Underweight from Equal Weight at Morgan Stanley » 08:4904/1604/16/21
Morgan Stanley analyst…
Morgan Stanley analyst Cesar Medina downgraded Millicom to Underweight from Equal Weight with a price target of SEK 340, up from SEK 330, citing what he sees as its competition risk and a less attractive risk-reward relative to other stocks in his Latin America TMT coverage.
Millicom initiated with a Buy at SEB Equities » 05:1902/1202/12/21
SEB Equities initiated…
SEB Equities initiated coverage of Millicom International Cellular with a Buy rating and $405 price target.
Millicom initiated with a Neutral at Goldman Sachs » 17:0002/0202/02/21
Goldman Sachs analyst…
Goldman Sachs analyst Diego Aragao initiated coverage of Millicom with a Neutral rating and $42 price target. The company is uniquely positioned to address the growing demand for internet data connectivity in a number of distinct LatAm markets, the analyst tells investors in a research note. Aragao adds that Millicom's M&A synergies and digitalization support the company's cash flow and improvements in leverage, though he also sees its high leverage and evolving competitive forces remaining as "risk factors".