Cleary Gottlieb represented Telecom Argentina S.A. (Telecom Argentina) in its offering of $400 million 8% notes due 2026.
Joint lead managers and bookrunners were Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, and Santander Investment Securities Inc. The offering launched on July 10, 2019, priced on July 11, 2019, and closed on July 18, 2019.
Telecom Argentina used a portion of the net proceeds of the notes offering to pay the purchase price of certain of its outstanding notes, which were tendered prior to the early tender deadline pursuant to a tender offer that launched on July 10, 2019, and is expected to expire on August 9, 2019. Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, and Santander Investment Securities Inc. acted as dealer managers, and Global Bondholder Services Corporation as information agent.