Telecom Personal Secures $400 Million Loan from IFC

Cleary Gottlieb represented Telecom Personal S.A. in connection with a six-year unsecured loan facility arranged by the International Finance Corporation, with an aggregate principal amount of $400 million.

The transaction signed on October 5, 2016. Telecom Personal expects to use the proceeds of the loan to improve its 4G network coverage.

Telecom Personal is a subsidiary of Telecom Argentina and the operator of one of the largest mobile phone networks in Argentina and Paraguay.