Telecom has secured $ 400 million in international financing

Through the issuance of Clbad 1 marketable bonds, Telecom Argentina has obtained $ 400 million of funds in the international credit market, which will be used to extend and modify the maturity profile of its financial debt,
including the use up to $ 250 million for the
Optional pre-cancellation of your "A" clbad notes with
maturity in 2021. The Company's credit profile allowed for a completion rate of 8% and the funds acquired were higher than expected at the beginning of the process.

The company had originally planned a $ 300 million issue, but at the end of the day Thursday was oversubscribed about seven times in the international market, which is why it decided to extend it to 400 millions of dollars. According to the entity, "the success of this new investment is based on Telecom's credit quality and financial strength, as well as on improving Argentina's economic and financial prospects, which allow International investors to return to the country in the long term. "As detailed, 50% of subscribers come from the United States, 30% from Europe, 7% from Asia and 5% from the United States. Latin America.

The placement process for marketable bonds began on Wednesday, July 10 and ended on Thursday, July 11. The local underwriter is the Industrial and Commercial Bank of China and the international underwriters are: Citibank, HSBC Securities (USA) Inc., JP Morgan Securities LLC, Santander Investment Securities Inc.