Paraguayan Telecom on the Road

Telefonica Celular del Paraguay (Telecel) is meeting fixed-income investors this week in Europe, Latin America and the US, testing the market for what would be a debut international bond transaction. Telecel operates under the Tigo brand name and is a subsidiary of Millicom International Cellular, a mobile telephony and internet company in 14 markets across Latin America and Africa. It is visiting Los Angeles, New York, Boston, Lima and London through Wednesday, accompanied by Citi and Morgan Stanley. Telecel is expected to be rated BB.