Marval O'Farrell Mairal advises Telecom Argentina on the reopening of its issuance of Class 21 Notes for USD 200,000,000

Marval and A&O Shearman acted as legal counsel for the international and local placement agents and EGFA Abogados and Cleary Gottlieb Steen & Hamilton advised Telecom Argentina SA in the issuance of Class 21 Additional Notes.

Telecom Argentina SA, under its global program for the issuance of notes for a nominal amount of up to USD 3,000,000,000,000 (or its equivalent in other currencies or units of value), on October 29, 2024, issued Class 21 Additional Notes for a nominal amount of USD 200,000,000,000, at an annual fixed rate of 9.500%, redeemable, maturing in 2031.

This issuance of additional notes is additional to previous issuances of Class 21 Notes, issued by the Company on July 18, July 26 and August 9, 2024, reaching a total issuance of the original Class 21 Notes of USD 617,217,000, and, together with this new issuance, a total amount of USD 817,217,000.

This Notes reopening by Telecom Argentina SA at a price of 103.28% with a yield of 8.75% represents a significant improvement from the original offering in July 2024 with a yield of 9.70%.

Marval O’Farrell Mairal, locally, and A&O Shearman, under foreign law, advised Deutsche Bank Securities Inc, JP Morgan Securities LLC, Santander US Capital Markets LLC, and Latin Securities SA, as international placement agents, and Latin Securities SA and Santander Bank SA as local placement agents.

The team was led by partners Juan M. Diehl Moreno and Sergio Talamo, together with associates Maria Manuela Lava and Juan Pablo Lentino and Lautaro Penza.

The EGFA team was led by partners Baruki González and Ximena Digón, and associates María Constanza Martella, Marina Galindez, Agustina Weil and Luciano Laborato.