Foley Secures Bond Issuance for Tigo Comcel

22 April 2014 Media Contact: Jill Chanen News
Foley recently secured one of the largest bond issuances in Central America for Guatemala’s biggest telecommunications company, known as Comunicaciones Celurares, S.A. (“Comcel” or “Tigo Comcel”). At $800 million, the bond issuance was part of Comcel’s strategy to refinance its existing floating rate debt, raise additional funds to achieve a substantial interest expense savings and minimize its interest rate risk. The highly unique transaction closed early in 2014 and demonstrates foreign investors’ increased interest in Guatemala and Latin America.

The Foley team consisted of Emil Infante and Carlos Abarca, who also recently assisted Comcel in securing two syndicated loans worth approximately $300 million.

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