Conditional Notice of Redemption to the Holders of Millicom International Cellular S.A. (the 'Issuer')

LUXEMBOURG, Sept. 11, 2017 /PRNewswire/ --

Conditional notice of the redemption of all of the aggregate principal amount of the Issuer's outstanding 6.625% Senior Notes due 2021 (the 'Notes') is hereby given pursuant to Section 3.03 of the Indenture, dated as of October 16, 2013 (as amended or supplemented from time to time, the 'Indenture'), among the Issuer; Citibank, N.A., London Branch, as trustee, transfer agent and paying agent (in such capacity, the 'Paying Agent'); and Citigroup Global Markets Deutschland AG, as registrar. All capitalized terms used herein and not defined shall have the meanings assigned to such terms in the Indenture.

The terms and conditions of redemption are as follows:

1. The redemption date for the Notes will be October 15, 2017 (the "Redemption Date"), and the record date will be one Business Day prior to the Redemption Date.
2. The redemption price is 103.313% of the principal amount of the Notes, plus accrued and unpaid interest and Additional Amounts, if any, to, but not including, the Redemption Date. Accordingly, the aggregate redemption amount for the Notes is expected to be $702,106,620, which comprises (i) 103.313% of the principal amount of $658,476,000, amounting to $680,291,310, plus (ii) accrued and unpaid interest and Additional Amounts, if any, to, but not including, the Redemption Date occurring on October 15, 2017, amounting to $21,815,310 (collectively, the "Redemption Amount").
3. As permitted by Section 3.04 of the Indenture, the redemption is conditional upon the Issuer's completion of an offering of new senior unsecured notes on terms satisfactory to the Issuer in its sole discretion, generating gross proceeds in an amount at least $500 million, on or before the Redemption Date. If the condition has not been (or will not be) satisfied or waived on the Redemption Date, the Issuer will inform Holders by press release (with a copy to the Trustee and Paying Agent) by no later than 10:00 am London time one Business Day prior to the Redemption Date. If the condition is not satisfied or waived any Notes previously surrendered to any Paying Agent shall be returned to the Holders thereof.
4. The Paying Agent is Citibank, N.A., London Branch, Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB, United Kingdom.
5. The Notes must be surrendered to the Paying Agent to collect the applicable Redemption Amount set forth under paragraph 2 above.
6. Unless the Issuer defaults in making the redemption payment, interest and Additional Amounts, if any, on the Notes cease to accrue on and after the Redemption Date.
7. The Notes being called for redemption are being redeemed pursuant to Section 3.07(e) of the Indenture.
8. No representation is made by the Issuer, the Trustee or the Paying Agent as to the correctness or accuracy of the ISIN or Common Code numbers listed in this Notice or printed on the Notes.

Failure to receive this notice or any defect herein shall not affect the validity of the proceedings for the redemption of the Notes or the cessation of accrual of interest and Additional Amounts, if any, from and after the Redemption Date.

For more information please contact:

Press:
Vivian Kobeh
Corporate Communications Director
Tel: +1-305-476-7352 / +1-305-302-2858
E-mail: [email protected]

Investors:
Michel Morin
+352-277-59094

Mauricio Pinzon
Tel: +44-20-3249-2460
E-mail: [email protected]

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SOURCE Millicom International Cellular