EGFA Abogados advised Telecom Argentina S.A. in the international issuance of a new class of notes under its global note issuance program for a nominal value of up to US$3,000,000,000.
Class 24 notes were issued on May 28, 2025, for a nominal value of US$800,000,000, at a fixed annual rate of 9.250%, amortizable in two installments and maturing in 2033.
Telecom also received legal advice under foreign law from Cleary Gottlieb Steen & Hamilton LLP.
In turn, Beccar Varela locally and Linklaters LLP, under foreign law, advised BBVA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, and Santander US Capital Markets LLC as international underwriters, and Banco Santander Argentina S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Macro Securities S.A.U., Balanz Capital Valores S.A.U., and Latin Securities S.A. as local underwriters.
The Class 24 Notes were rated “B/RR3” by Fitch Ratings on May 19, 2025.
Advisors to Telecom Argentina S.A.
EGFA Abogados, as Argentine legal advisor, through its partners Baruki González and Ximena Digón, and associates María Constanza Martella, Marina Galíndez, and Agustina Weil.
Cleary Gottlieb Steen & Hamilton LLP, as U.S. legal advisor, through its partner Juan G. Giráldez and associates José Andrés de Saro, Carla Martini, and Nicole Mueller.
Advisors to the underwriters
Beccar Varela, as Argentine legal advisor to the local underwriters, through its partner Luciana Denegri and associates María Victoria Pavani, Sofía Gallo, Julián Alejandro Ojeda, and María Carolina Pilchik.
Linklaters LLP, as U.S. legal advisor to the international underwriters, through its partners Matt Poulter and Emilio Minvielle and associates Madeleine Blehaut and Thomas Tiphaine-Koffman.