Telefonica de Argentina in Cash Tender Offer
September 24, 2009
Cleary Gottlieb represented Citi as dealer manager in connection with cash tender offers by Telefonica de Argentina SA for certain of its bonds due 2010 and 2011. Telefonica de Argentina SA launched simultaneous U.S. Dollar and Argentine Peso tender offers for certain of its outstanding debt securities on September 24. The Argentine Peso tender offer is the first of its kind since the adoption of exchange controls in 2002. The offers expired on October 22 and settled on October 27.