The shareholders of Argentine fixed and mobile telco Telecom Argentina will decide on 15 December whether to approve a proposed bond offering of up to US$500m.
According to a Telecom Argentina stock exchange filing, the debt offering would have a…
The shareholders of Argentine fixed and mobile telco Telecom Argentina will decide on 15 December whether to approve a proposed bond offering of up to US$500m.
According to a Telecom Argentina stock exchange filing, the debt offering would have a maximum value of US$500m and would be made up of different series and/or classes of notes.
The maturity of the notes would range between 30 days and 30 years, and the debt programme would last for a five-year period.
The notes could be issued in Argentine pesos, US dollars or any other currency. They will not be convertible into shares.
In its Q3 results, released on 2 November, Telecom Argentina announced net profits of Ps602m (US$141m), up 36% from the same period in 2010.
The company provides mobile services in Argentina and Paraguay through its Personal brand. Its number of mobile customers rose by 11% over the year to reach 19.9m at the end of September.
Telecom Italia is an indirect shareholder in Telecom Argentina.
The Italian incumbent holds a 68% stake in Sofora Telecomunicaciones, which owns a 74% stake in Nortel Inversora.
Nortel Inversora holds a 54.74% stake in Telecom Argentina.
