Millicom International Cellular S.A. (NASDAQ: TIGO) completed an $87.5 million reopening of its 7.375% Senior Notes due 2032 through a private placement to Banco General, S.A., according to a company statement.

The offering represents an increase from the originally priced $75 million aggregate principal amount of additional notes on April 1. The transaction was conducted as a Regulation S only private placement, exempt from U.S. Securities Act registration requirements.

Millicom stated it intends to use the net proceeds for general corporate purposes, which may include capital expenditures and mergers and acquisitions.

The company has applied for the additional notes to be listed and traded on the Luxembourg Stock Exchange's Official List and admitted to trading on the Euro MTF market. The notes were offered exclusively to non-U.S. investors outside the United States under Regulation S guidelines.

The telecommunications company provides fixed and mobile services in Latin America through its TIGO and Tigo Business brands. As of December 31, 2025, Millicom employed approximately 15,000 people and served approximately 52 million customers with mobile and fiber-cable services, maintaining a fiber-cable footprint covering over 14 million homes.

Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.