Millicom International Cellular S.A. bonds TIGO
Who owns Millicom International Cellular S.A.'s debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. TIGO stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| AP0969109 | 5.125% fixed | 2028-01-15 | USD | 99.41 | 5.53% | 151 bp | 11 | $10.6M | Jun 2026 |
| 600814AN7 | 5.125% fixed | 2028-01-15 | USD | 98.97 | 5.87% | 174 bp | 9 | $12.3M | Jul 2026 |
| L6388GAB6 | 5.125% fixed | 2028-01-15 | USD | 99.00 | 5.85% | 172 bp | 1 | $356K | Jul 2026 |
| AX6986878 | 6.25% fixed | 2029-03-25 | USD | 100.00 | 6.24% | 200 bp | 7 | $25.9M | Jul 2026 |
| L6388GHV5 | 6.25% fixed | 2029-03-25 | USD | 100.71 | 5.97% | 194 bp | 2 | $453K | May 2026 |
| 600814AQ0 | 6.25% fixed | 2029-03-25 | USD | 99.92 | 6.28% | 203 bp | 8 | $16.8M | Jul 2026 |
| 600814AR8 | 4.5% fixed | 2031-04-27 | USD | 91.93 | 6.50% | 218 bp | 17 | $27.1M | Jul 2026 |
| L6388GHX1 | 4.5% fixed | 2031-04-27 | USD | 91.92 | 6.51% | 218 bp | 14 | $17.5M | Jul 2026 |
| BM0208611 | 4.5% fixed | 2031-04-27 | USD | 93.12 | 6.17% | 196 bp | 1 | $186K | Jun 2026 |
| 600814AS6 | 7.375% fixed | 2032-04-02 | USD | 102.41 | 6.85% | 248 bp | 16 | $16.9M | Jul 2026 |
| L6388GJA9 | 7.375% fixed | 2032-04-02 | USD | 102.41 | 6.85% | 248 bp | 4 | $8.3M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 8 | $125.1M | 99.46 | 6.39% | 211 bp | 17 |
| Jun 2026 | 9 | $160.7M | 99.41 | 6.13% | 196 bp | 24 |
| May 2026 | 9 | $109.9M | 99.33 | 5.98% | 195 bp | 19 |
| Apr 2026 | 8 | $103.9M | 99.97 | 6.06% | 218 bp | 20 |
| Mar 2026 | 9 | $158.9M | 99.08 | 6.56% | 271 bp | 22 |
| Feb 2026 | 8 | $103.9M | 99.71 | 6.01% | 233 bp | 18 |
| Jan 2026 | 8 | $118.7M | 100.32 | 6.00% | 227 bp | 20 |
| Dec 2025 | 9 | $163.3M | 99.84 | 6.02% | 233 bp | 22 |
| Nov 2025 | 8 | $102.7M | 99.51 | 6.07% | 236 bp | 18 |
| Oct 2025 | 8 | $95.3M | 99.98 | 5.97% | 234 bp | 23 |
| Sep 2025 | 9 | $184.4M | 99.71 | 5.67% | 196 bp | 21 |
| Aug 2025 | 8 | $99.3M | 99.18 | 5.94% | 208 bp | 18 |
| Jul 2025 | 8 | $89.9M | 99.62 | 6.20% | 225 bp | 21 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 22 added, 27 cut, 4 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Dodge & Cox Global Bond Fund Dodge & Cox Funds | 2026-06-30 | $48.0M | $47.7M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $39.6M | $38.6M | $4.0M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $22.3M | $22.3M | new |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $20.4M | $20.7M | $0 |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $14.7M | $14.2M | -$641K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $12.7M | $12.7M | -$450K |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $12.1M | $11.5M | $4.8M |
| Fidelity New Markets Income Fund Fidelity Summer Street Trust | 2026-06-30 | $9.2M | $8.9M | $0 |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $8.8M | $8.4M | -$1.6M |
| THE HARTFORD STRATEGIC INCOME FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $9.1M | $8.4M | -$2.9M |
| Short Duration Bond Fund John Hancock Bond Trust | 2026-05-31 | $7.6M | $7.6M | $868K |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $7.0M | $6.9M | -$513K |
| THE HARTFORD SHORT DURATION FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $6.3M | $6.5M | $0 |
| DoubleLine Low Duration Bond Fund DoubleLine Funds Trust | 2026-06-30 | $6.4M | $6.4M | -$1.1M |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $6.5M | $6.4M | $0 |
| Fidelity Enhanced High Yield ETF Fidelity Covington Trust | 2026-05-31 | $6.6M | $6.3M | $950K |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $6.0M | $5.9M | $0 |
| Fidelity Emerging Markets Debt Central Fund Fidelity Hanover Street Trust | 2026-06-30 | $5.9M | $5.7M | $0 |
| Loomis Sayles Core Plus Bond Fund Natixis Funds Trust I | 2026-06-30 | $5.5M | $5.1M | $0 |
| Western Asset Management Strategic Bond Opportunities Portfolio Brighthouse Funds Trust II | 2026-06-30 | $5.1M | $4.9M | $0 |
| Fidelity Total Bond ETF Fidelity Merrimack Street Trust | 2026-05-31 | $4.8M | $4.7M | $309K |
| DoubleLine Emerging Markets Fixed Income Fund DoubleLine Funds Trust | 2026-06-30 | $4.5M | $4.5M | $0 |
| Xtrackers USD High Yield BB-B ex Financials ETF DBX ETF Trust | 2026-05-31 | $4.5M | $4.4M | $395K |
| Nuveen Core Bond Fund TIAA-CREF Funds | 2026-06-30 | $4.4M | $4.4M | $0 |
| Schwab High Yield Bond ETF SCHWAB STRATEGIC TRUST | 2026-05-31 | $4.2M | $4.2M | $180K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): JPMorgan Income Fund ($1.5M), AB HIGH INCOME FUND INC ($1.2M), BondBloxx BB Rated USD High Yield Corporate Bond ETF ($1.2M), MFS MULTIMARKET INCOME TRUST ($625K), AllianceBernstein Global High Income Fund Inc ($552K), Nuveen Global High Income Fund ($525K), JPMorgan Income ETF ($400K), Xtrackers High Beta High Yield Bond ETF ($86K).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 4 | $39.6M | $38.6M | 0.14% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 2 | $14.7M | $14.2M | 0.87% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 4 | $12.7M | $12.7M | 0.11% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 4 | $7.0M | $6.9M | 0.20% |
| FDHY Fidelity Enhanced High Yield ETF | 2026-05-31 | 2 | $6.6M | $6.3M | 1.21% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 4 | $4.8M | $4.7M | 0.02% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 4 | $4.5M | $4.4M | 0.18% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 3 | $4.2M | $4.2M | 0.17% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 4 | $3.3M | $3.1M | 0.28% |
| EMHY iShares J.P. Morgan EM High Yield Bond ETF | 2026-07-31 | 3 | $2.5M | $2.5M | 0.39% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 3 | $2.3M | $2.3M | 0.01% |
| SYSB iShares Systematic Bond ETF | 2026-07-31 | 2 | $2.0M | $1.9M | 0.17% |
| HFSI Hartford Strategic Income ETF | 2026-07-31 | 1 | $1.9M | $1.7M | 0.16% |
| CEMB iShares J.P. Morgan EM Corporate Bond ETF | 2026-07-31 | 3 | $1.6M | $1.5M | 0.37% |
| TOTL State Street(R) DoubleLine(R) Total Return Tactical ETF | 2026-06-30 | 3 | $1.4M | $1.4M | 0.03% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.19: safer than 40% of companies (40th percentile in Communication Services). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $13.26B |
| Debt barrier (short-term + ½ long-term debt) | $4.92B |
| Equity volatility (1 year) | 41.7% |
| Asset value / asset volatility (solved) | $17.98B / 30.8% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 211 bp spread prices in about 3.5% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z'' = 0.28 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in TIGO's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 41 | $152.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 428 | $6.88B | 7 | $13.2M | 7 | $58.2M | 0 |
| 2026-03-31 | 357 | $5.27B | 8 | $9.6M | 9 | $63.4M | 0 |
| 2025-12-31 | 322 | $3.61B | 7 | $6.1M | 8 | $30.3M | 0 |
| 2025-09-30 | 258 | $3.12B | 4 | $1.5M | 8 | $26.5M | 0 |
| 2025-06-30 | 208 | $2.15B | 3 | $510K | 4 | $623K | 0 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.