- An IDB Invest subscription of $50 million in a local currency bond will be used to expand digital infrastructure and extend network coverage.
WASHINGTON – IDB Invest announced a $50 million subscription in a 10-year local bond issuance by Telefónica Celular del Paraguay S.A.E. (Tigo Paraguay), a landmark transaction in terms of size and tenor in Paraguay’s capital market. The financing will help expand fixed and mobile broadband services in the country, contributing to economic development.
The transaction, which will be carried out in local currency, will enable Tigo Paraguay to increase network capacity, improve data transmission speeds, and broaden coverage.
The issuance is structured as a series subscribed by IDB Invest for the equivalent of $50 million in Paraguayan guaraníes. Acting as an anchor investor, IDB Invest will mobilize additional resources and encourage interest from other potential local investors.
In addition to financing, IDB Invest will provide an action plan focused on environmental and social sustainability, as well as cybersecurity.
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $16.3 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About Tigo Paraguay
Tigo is a company committed to driving the country’s digital transformation through innovative products and services. It offers its customers a wide range of mobile services, pay TV, internet, and mobile financial services. Tigo is a leader in coverage and product innovation and acts responsibly by promoting good corporate behavior, positively impacting communities.