Telecom Arg opts for exchange to push out maturities

By Oliver West
10 Oct 2019

One of the strongest credits in Argentina will seek to entice bondholders to push out maturities by turning a portion of its existing bond into cash and increasing the coupon on the remaining amount.

Telecom Argentina, the leading convergent telecom company provider in Argentina, which is rated Caa1/B-/B- rated, wants to exchange as much of its $465.853m of existing 6.5% 2021s for new bonds maturing in 2025 and some cash as possible. 

More precisely, for every $1,000 that bondholders hold, they can obtain ...

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