Telecom Argentina (TEO) has released an update.
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Telecom Argentina S.A. has strategically allocated funds from its recent Class 21 Notes issuance to pay down debts. The company used $38.25 million to fully prepay a loan from the International Finance Corporation (IFC) dating back to March 2019, and an additional $125 million towards partially settling a more recent loan from June 2022. This financial maneuver has left Telecom Argentina with an outstanding loan balance of $42.73 million.
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