GALA advised Cable Onda on a US$600 Million Global Notes Offering

Galindo, Arias & López acted as Panamanian counsel to Cable Onda S.A., a Panamanian corporation which is the leading provider of residential Pay-TV, fixed broadband Internet and fixed telephony in Panama, in connection with the global offering of unsecured notes in the amount of US$600,000,000.00, which proceeds will be used, inter alia, to repay certain obligations incurred by the company to finance the purchase of Telefónica Panamá (the leading mobile provider in Panama).

The notes were issued as prescribed in Regulation S and Rule 144A under the Securities Act and approved by the Panamanian Stock Market Superintendence. The Notes are listed in Panama Stock Exchange and Euro MTF Market of the Luxembourg Stock Exchange.

The majority shareholder of Cable Onda is the Millicom group, with local partners owning 20% of the shares.

Attorneys involved: Cristina Lewis and Diego Herrera (Partners), Carla López (Securities), Jose Luis Sosa and Beatriz Cabal (Mergers & Acquisition and Regulatory).