Telecom Argentina (TEO) has released an update.
Telecom Argentina S.A. has successfully concluded its Exchange Offer, where $200 million of its 8.000% Notes due 2026 were tendered for exchange with newly issued 9.500% Senior Amortizing Notes due 2031. The offer, which expired on August 8, 2024, is expected to settle the following day, ultimately increasing the total outstanding principal amount of the 9.500% notes to $617.2 million. The exchange is part of a strategic move to manage the company’s debt profile and is not available to the general public but only to qualified institutional players and certain non-U.S. persons.
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