Davis Polk is advising Millicom in connection with a Rule 144A/Regulation S offering of $500 million aggregate principal amount of its 6.625% senior notes due 2026. The net proceeds from the offering will be used to finance in part Millicom’s proposed acquisition of Cable Onda, the largest cable and fixed telecommunications services provider in Panama.

Millicom is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Cable Onda is the leader in Panama’s broadband internet, pay-TV, fixed telephony and B2B telecommunications markets, serving more than 500,000 customers.

The Davis Polk capital markets team includes partner John B. Meade and associates Paula Querol, Roderick G. Miller and Jenny J. Choi. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Partner Nick Benham and associate Patrick Ryan provided advice on U.K. law. Members of the Davis Polk team are based in the New York, Madrid and London offices.

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