Company name
Millicom International Cellular S.A. (MICSA)
Project number
15524-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Regional
Sector
Digital Economy
Status
In implementation
Disclosed date
03/23/2026
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/14/2025
Approval date
11/11/2025
Signed date
12/19/2025
Sponsoring entity
N/A
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
COP
Project scope and objective
IDB Invest intends to act as lead investor in a senior notes issuance of up to US$500 million (indexed to COP), with an 8-year tenor, to be issued in the international capital markets by Millicom International Cellular (“MICSA”, the “Company” or the “Issuer”) through a private placement.
IDB Invest plans to invest up to US$50 million and expects to bring in co-investors to cover the remaining amount.
The proceeds from the bond issuance will be used to: (i) support the deployment of 4G, 4.5G, and 5G mobile networks, as well as broadband infrastructure; (ii) finance working capital needs; (iii) drive the growth of Millicom’s business-to-business (B2B) segment; and (iv) for general corporate purposes in Bolivia, Colombia, El Salvador, Guatemala, Honduras, Panama, or Paraguay, in each case in compliance with Applicable Law and subject to the Excluded Activities List (collectively, (i), (ii), (iii), and (iv), the “Project”).
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Contact information
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Client Contact
Information not available on IDB Invest website may be requested by mailing to 1350 New York Ave NW, Washington, DC 20577, by e-mailing [email protected] or by calling +1(202)-566-4566.
Individuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing [email protected] or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to [email protected] or [email protected] or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For information requests about the project.
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
MICSA ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
286.7 Kb
MICSA ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
112.6 Kb