Telecom Argentina S.A. Announces Final Results and Payment Date for its Cash Tender Offer
BUENOS AIRES, Argentina, Aug. 6, 2024 /PRNewswire/ --
Telecom Argentina S.A.
8.500% Notes due August 6, 2025
(CUSIP Nos. 879273 AT7 and P9028N AZ4; ISIN Nos. US879273AT79 and USP9028NAZ44)
Telecom Argentina S.A. ("Telecom") announces the final results at the Expiration Time for its offer to purchase for cash (the "Offer") up to U.S.$100,000,000 outstanding aggregate principal amount (reflecting, for the avoidance of doubt, any amortization) of its outstanding 8.500% Notes due August 6, 2025 (the "Notes") from each registered holder, on the terms and subject to the conditions set forth in the offer to purchase dated July 8, 2024 (as amended by Telecom's press release dated July 22, 2024, whereby Telecom announced an extension of Early Tender Offer Consideration, as it may be further amended or supplemented from time to time, the "Statement"). Capitalized terms used but not defined herein have the meanings assigned to them in the Statement.
The Offer expired at 5:00 p.m., New York City time, on August 5, 2024 (the "Expiration Time"). The Payment Date is expected to be August 8, 2024, which is three business days after the Expiration Time.
The following table summarizes the aggregate principal amount of Notes validly tendered (and not validly withdrawn) in the Offer and accepted for purchase (subject to any required proration) as of the Expiration Time:
Description of Notes |
CUSIP Nos. |
Original Principal Amount Outstanding (1) |
Principal Amount |
Principal Amount |
||||
8.500% Notes due August 6, 2025 |
CUSIP No.: 879273 AT7 |
U.S.$388,871,000 |
U.S.$58,382,000 |
U.S.$19,849,880 |
||||
(1) As of July 8, 2024. This amount does not reflect any amortizations or repurchases. |
||||||||
Telecom expects to pay an aggregate amount of U.S.$19,710,930.84 as tender consideration for the Notes accepted for purchase in the Offer. In addition to the tender consideration, Telecom expects to pay US$9,373.03 of accrued and unpaid interest in respect of all Notes accepted for purchase.
On August 6, 2024, Telecom made an amortization payment in the amount of U.S.$128,327,430 on the Notes, including those Notes validly tendered and accepted for purchase. Prior to this amortization payment, the outstanding principal amount of Notes reflecting any amortization was U.S.$260,543,570. Following this amortization payment, the outstanding principal amount of Notes reflecting any amortization is U.S.$132,216,140. Following the Payment Date, the outstanding principal amount of Notes reflecting any amortization will be U.S.$112,366,260.
Morrow Sodali International LLC acted as the information and tender agent (the "Information and Tender Agent") for the Offer. Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Santander US Capital Markets LLC, BBVA Securities Inc., BCP Securities, Inc., Latin Securities, S.A., Agente de Valores, and UBS Securities LLC are acting as dealer managers (the "Dealer Managers") for the Offer.
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The Offer was not made to holders in any jurisdiction in which Telecom was aware that the making of the Offer would not be in compliance with the laws of such jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. Telecom undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.
The Information and Tender Agent for the Offer is:
Morrow Sodali International LLC
E-mail: [email protected]
Offer Website: https://projects.morrowsodali.com/telecomargentina
In London 103 Wigmore Street W1U 1QS London Telephone: +44 20 4513 6933
|
In Stamford 333 Ludlow Street, South Tower, 5th Floor Stamford, CT 06902 Telephone: +1 203 658 9457
|
Any question regarding the terms of the Offer should be directed to the Dealer Managers.
The Dealer Managers for the Offer are:
Deutsche Bank Securities Inc. 1 Columbus Circle Toll-Free: (866) 627-0391
|
J.P. Morgan Securities LLC 383 Madison Avenue New York, New York 10179 United States Attention: Latin America Debt Capital Markets Call Collect: (212) 834-7279 Toll-Free: (866) 846-2874 |
Santander US Capital Markets LLC 437 Madison Ave United States Attention: Liability Management |
BBVA Securities Inc. 1345 Avenue of the Americas, 44th Floor New York, New York 10105 United States of America Attn: Liability Management Collect: +1 (212) 728 2446 U.S. Toll Fee: +1 (800) 422 8692 Email: [email protected] |
BCP Securities, Inc. 289 Greenwich Avenue Greenwich, CT 06830 United States Attention: James Harper (203) 629-2186 Email: [email protected] |
Latin Securities S.A. Agente de Valores Zonamérica Ruta 8, Km 17,500 Edificio M2, Ofic. 002 Montevideo, CP 91600 Uruguay Attention: [email protected] |
UBS Securities LLC 1285 Avenue of the Americas New York, NY 10019 Attention: Liability Management Group Call Collect: (212) 882-5723 Toll Free: (833) 690-0971 Email: [email protected] |
Information relating to the Offer shall be available online at https://projects.morrowsodali.com/telecomargentina until the consummation or termination of the Offer
SOURCE Telecom Argentina S.A.
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