Davis Polk advises banks on Telefónica Celular del Paraguay $300m offering
Law firm Davis Polk & Wardwell has advised a group of banks as the initial purchasers in connection with the offering by Telefónica Celular del Paraguay (TELECEL) of a $300 million aggregate principal amount of its 5.875% notes due 2027.
The purchasing banks were BBVA Securities, BNP Paribas Securities, Citigroup Global Markets and Itau BBA USA Securities.
The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.
TELECEL is a wholly owned subsidiary of Millicom International Cellular, operating under the brand name Tigo, and is the leading provider of communications, information, entertainment and solutions services in Paraguay through the provision of mobile telephony, cable and broadband Internet.
The Davis Polk team included partner Maurice Blanco and associates Elliot M. de Carvalho, Lourenco Lopes-Sabino and Francisco J. Cespedosa, plus a tax team including partner William A. Curran and associate Joseph Jarashow.
