Company name

Millicom International Cellular, S.A.

Project number

12215-01

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
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B

Country

Regional

Sector

Telecommunications, Media and Technology

Status

In implementation

Disclosed date

03/02/2018

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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04/03/2018

Approval date

04/03/2018

Signed date

07/11/2018

Team leader

Martinez Gama, Carlos

Investment type

Financing requested

N/A

Syndicated amount

USD $ 48,330,100

Financing amount

USD $ 50,000,000

Currency

COP, USD

Project scope and objective

IDB Invest is considering an investment of up to US$ 50,000,000 in a private placement of a note denominated in Colombian Pesos (COP) with interest payable in US dollars but indexed to COP, that may be issued by Millicom International Cellular, S.A., a multinational company with significant revenues coming from Latin American countries (LAC).

Proceeds from the note would be used by the Company for, amongst other purposes, regional capex and general corporate purposes in IDB Invest’s regional member countries (“the Project”).

IDB Invest's commitment to purchase the note would be subject to certain conditions being met, including the Company agreeing to comply with IDB Invest's environment and social policies whilst IDB Invest is a noteholder.

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Addendum to Millicom’s disclosure - March 20, 2018:
Previous amount: US$80 million
New amount: US$50 million

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY

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Project images

Millicom Private Placement
Millicom Private Placement
Millicom Private Placement
Millicom Private Placement

Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices