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Telecom Argentina’s USD200 million bond reopening: A&O Shearman advises initial purchasers

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Published Date

Oct 29 2024

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A&O Shearman advised the initial purchasers in connection with Telecom Argentina’s offering of an additional USD200m 9.500% senior amortizing notes due 2031, for a total of USD817,217,000 principal amount outstanding. Earlier this year, A&O Shearman advised the initial purchasers on the original offering, conducted concurrently with an exchange offer and a tender offer.

This bond reopening by Telecom Argentina at a price of 103.286% with a yield of 8.75% represents a significant improvement from the original offering in July 2024 with a yield of 9.70%, showing renewed interest by investors in both the company and in Argentina. Proceeds will be used to prepay certain notes, loans, transaction expenses and any remainder for general corporate purposes.

Telecom Argentina is a leading telecommunications company offering fixed and mobile connectivity, cable, internet and technological solutions in Argentina with growing operations in Paraguay and Uruguay. The A&O Shearman team was led by partner Alejandro A. Gordano alongside associate Gonzalo Robles and visiting attorneys Moises Gonzalez Arroyo and Delfina Meccia as well as partner Lorenz Haselberger and associate Daniel Kachmar.