Millicom International Cellular SA announced that it has successfully issued a US Dollar-denominated bond. Millicom has successfully completed the issuance of a 7-year $500 million bond with a fixed coupon of 4.75%. The issuance was done at 99.266 and the demand for the bond reached $3.9 billion primarily from the USA and Europe. The bond will be listed in Luxembourg.

Millicom International Cellular SA reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $1,246 million against $1,268 million a year ago. EBITDA was $494 million against $517 million a year ago. Normalized net profit was $143 million against $175 million a year ago. Capex was $193 million against $172 million a year ago. Normalized EPS was down 8% to $1.43 per share. Free cash flow for first quarter 2013 was negative by $57 million. This was a result of an increase in network and spectrum investments, the higher level of tax paid, and negative changes in working capital versus first quarter 2012. For 2013, the company expects Group EBITDA margin to be above 40% (excluding Online) and to decline at a lower rate than over the past twelve months. The capex to revenue ratio will peak at around 20%, excluding spectrum acquisition. In 2013 the company expects the Online division to generate revenue in excess of $100 million and EBITDA losses to be in the range of $125-200 million. Losses will be on the higher side of the range if the company sees an opportunity to accelerate growth and ramp up launch of new businesses. The company proposed to the AGM to be held on May 28, 2013, the payment of an ordinary dividend of $2.64 with 3%, a 10% increase versus the 2011 level. Such dividend is to be paid on June 7, 2013.

Millicom International Cellular SA proposed a dividend of $2.64 per share, payable on June 7, 2013 to be approved at the AGM to be held on May 28, 2013. Shares to trade ex-dividend on May 29.