Latham Advises Banks on US$8 Billion Financing for Atlas’ Public Tender Offer for Millicom

Latham & Watkins is advising a group of banks comprised of BNP Paribas, Crédit Agricole Corporate and Investment Bank, JPMorgan, Natixis, and Société Générale on the financing for the public tender offer by Atlas Luxco S.à r.l., a subsidiary of Atlas Investissement, of all of the outstanding common shares and Swedish depositary receipts in Millicom International Cellular S.A.

The financing for the offer consists of US$8 billion of debt via an interim facilities agreement. The intention is to replace or refinance all or a substantial part of the interim facilities with long-term financing comprised of a US$2.6 billion term loan facility, a US$100 million debt service revolving facility, a US$3.8 million backstop bridge facility and a US$600 million revolving credit facility, each to be made available to Atlas Luxco, and a US$500 million bridge facility to be provided to Iliad Holding S.A.S.

The core Latham team is being led by London finance partner Dan Maze and debt capital markets partner Scott Colwell, with Paris finance partner Xavier Farde. The team also includes London associates Philipp Hagenbuch, Alexander Peters, Luke Barratt, and Hamaad Mustafa, with Paris associate Virginie Terzic.