Telecom Arg opts for exchange to push out maturities
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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