Telecom Argentina’s USD500 million bond offering: A&O Shearman advises initial purchasers

The offering closed on July 18, 2024, and was made along with a cash tender offer for up to USD100m 8.500% Notes due 2025 and an exchange offer for up to USD200m 8.000% Notes due 2026 of Telecom Argentina, both of which are scheduled to expire in August 2024.

This transaction represents Telecom Argentina’s return to the international capital markets since 2020. The use of proceeds from the offering is to pay all or a portion of the consideration for the cash tender offer, prepay certain loans, transaction expenses and any remainder for general corporate purposes.

The A&O Shearman team was led by partner Alejandro A. Gordano alongside associate Gonzalo Robles and visiting attorney Moises Gonzalez Arroyo as well as partner Lorenz Haselberger and associate Daniel Kachmar.