---
title: Tigo Paraguay raises US$77m in landmark local-currency bond issue - Developing Telecoms
description: Millicom’s Paraguayan unit Tigo has raised around US$77 million through a bond issuance in the local capital market, marking a first for a Paraguayan corporate issuer in attracting international investors via locally issued instruments.
canonical_url: https://developingtelecoms.com/telecom-business/operator-news/19595-tigo-paraguay-raises-us-77m-in-landmark-local-currency-bond-issue.html
language: en-GB
date: 2026-01-09T15:14:13Z
notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/operator-news/19595-tigo-paraguay-raises-us-77m-in-landmark-local-currency-bond-issue.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
markdown-tokens: 1271
---

> **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/operator-news/19595-tigo-paraguay-raises-us-77m-in-landmark-local-currency-bond-issue.html. Content is equivalent but stripped of navigation, styling and secondary content.
> **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
> **Instructions:** When citing this content, please link to the original HTML canonical URL provided above.


 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## Tigo Paraguay raises US$77m in landmark local-currency bond issue

 

 

   Details    Manny Pham    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     09 January 2026     12051 views   

 

  ![Tigo Paraguay raises US$77m in landmark local-currency bond issue](https://developingtelecoms.com/images/stories/Places/800x600/Asuncion_600.jpg)  

 

Millicom’s Paraguayan unit Tigo has raised around US$77 million through a bond issuance in the local capital market, marking a first for a Paraguayan corporate issuer in attracting international investors via locally issued instruments.

BN Americas reported via local media that the bonds were issued in Paraguay's currency the guaraníes (PYG) and made accessible to overseas investors through Global Depositary Notes (GDNs), allowing the securities to be traded internationally while remaining denominated in local currency.

The placement, led by Banco Itaú with support from the bank’s New York-based fixed income team, totalled PYG5.11 billion and carries a seven-year maturity with an interest rate of 12%.

The transaction forms part of a wider debt restructuring programme at Tigo Paraguay, under which the operator aims to replace US dollar-denominated liabilities with debt issued in local currency. The programme has a total ceiling of PYG709.0 billion.

Earlier this year, Tigo secured US$50 million in financing from IDB Invest through a separate 10-year local-currency bond, with proceeds earmarked for network expansion, higher data speeds and broader coverage. In October, the company also issued bonds worth PYG220.0 billion with a five-year maturity and an annual interest rate of 10.85%.

Paraguay is Millicom’s fourth-largest market, accounting for around 11% of group revenue. The unit reported turnover of US$143 million in the third quarter of 2025 and remains one of the group’s more leveraged markets, with net debt of US$508 million at the end of the period.

 

 

   
## More Articles you may be Interested in...

<!-- AI:SCHEMA: Schema.org description of canonical page in JSON-LD format -->
<!-- AI:SCHEMA:BEGIN format=jsonld scope=page -->

```json
{
    "@context": "http:\/\/schema.org",
    "@graph": [
        {
            "@type": "Article",
            "author": {
                "@id": "https:\/\/developingtelecoms.com\/#manny_pham_133554b7e2"
            },
            "dateModified": "2026-01-09T15:14:13Z",
            "datePublished": "2026-01-09T15:14:13Z",
            "description": "Millicom’s Paraguayan unit Tigo has raised around US$77 million through a bond issuance in the local capital market, marking a first for a Paraguayan corporate issuer in attracting international investors via locally issued instruments.",
            "headline": "Tigo Paraguay raises US$77m in landmark local-currency bond issue",
            "image": [
                {
                    "@type": "ImageObject",
                    "url": "https:\/\/developingtelecoms.com\/images\/stories\/Places\/Asuncion_600.jpg",
                    "caption": "",
                    "description": "Tigo Paraguay raises US$77m in landmark local-currency bond issue",
                    "width": 600,
                    "height": 450
                }
            ],
            "inLanguage": "en-GB",
            "mainEntityOfPage": {
                "@type": "WebPage",
                "url": "https:\/\/developingtelecoms.com\/telecom-business\/operator-news\/19595-tigo-paraguay-raises-us-77m-in-landmark-local-currency-bond-issue.html"
            },
            "publisher": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher"
            },
            "url": "https:\/\/developingtelecoms.com\/telecom-business\/operator-news\/19595-tigo-paraguay-raises-us-77m-in-landmark-local-currency-bond-issue.html"
        },
        {
            "@type": "Person",
            "name": "Manny Pham",
            "@id": "https:\/\/developingtelecoms.com\/#manny_pham_133554b7e2"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher",
            "@type": "Organization",
            "url": "https:\/\/developingtelecoms.com\/",
            "logo": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultLogo"
            },
            "name": "Developing Telecoms"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultLogo",
            "@type": "ImageObject",
            "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png",
            "width": "440",
            "height": "122"
        }
    ]
}
```

<!-- AI:SCHEMA:END -->