Telecom Argentina’s $1 Billion Credit Facility

Cleary Gottlieb represented Telecom Argentina S.A. (Telecom), in connection with a $1 billion credit facility with a consortium of international banks.

The transaction closed on February 9, 2018. The proceeds of the loan will be applied to fund capital expenditures, working capital, and other general corporate purposes.

Following its recent merger with Cablevisión S.A., Telecom became one of Argentina’s largest private-sector companies in terms of revenues, net income, capital expenditures, and number of employees. Telecom provides wireless and fixed-line telecommunications, data transmission, internet, mobile and international wholesale services, and IT solutions outsourcing.