Tigo Paraguay Network Connectivity Local Bond

in implementation

The proposed financing for Telefónica Celular Paraguay S.A.E. consists of a bond issuance in Paraguay by Telefónica Celular Paraguay S.A.E., for a total amount equivalent in Paraguayan guaraníes (PYG) of up to US$100,000,000.The bonds will be issued simultaneously in two (2) series:Series 1: to be subscribed by IDB Invest, for a total amount equivalent in guaraníes (PYG) of up to US$50,000,000; andSeries 2: to be subscribed by other local investors, for a total amount equivalent in guaraníes (PYG) of at least US$5,000,000 and up to US$50,000,000.Through this financing, we will support the Company in its strategy to replace part of its current U.S. dollar-denominated debt with long-term financing in local currency, aiming not only to reduce its exposure to exchange rate risk but also to execute its annual investment program, modernize its mobile and fixed network. This transaction will also help the Company deepen its access to the local capital market by expanding and diversifying its base of local currency investors.