Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 145

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 145
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 interest) of its loan agreement with CDB (P$22,802 million in current currency as of December 31, 2024).
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●   In December 2024, the Company partially prepaid US$34.5 million (principal and prepaid fees) (P$35,285 million in current currency as of December 31, 2024) from its loan agreement with IDB dated May 29, 2019.
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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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For more information about Telecom’s financing facilities (including currency, maturity, interest rate structure and amortization schedule), see Notes 13 and 26 to our Consolidated Financial Statements.
Derivate Financial Instrument
From time to time, in the ordinary course of business, Telecom enters derivative contracts to hedge the fluctuation of, mainly, exchange and interest rates.
In August 2024, the Company canceled the three DFI agreements (signed during September 2022), to hedge the fluctuation of SOFR from the IFC loan signed on June 28, 2022, for its total amount, for the period beginning February 15, 2023, to August 15, 2025. The DFI agreements entered into covered a total amount of US$184.5 million. The interest rates were 3.605%, 3.912% and 3.895%, respectively.
During 2024, Telecom Argentina entered several DFI agreements amounting to US$50 million to hedge the fluctuation of the exchange rate from its loan portfolio, fixing the average exchange rate at 1,004 Argentine Pesos/US$. The DFI agreements expired between July 2024 and August 2024.
For more information about Telecom’s derivative contract, see Note 22 and 26 to our Consolidated Financial Statements.
Cash Flow
The table below summarizes, for the years ended December 31, 2024, 2023 and 2022, Telecom’s consolidated cash flows:
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​                                                                              Year ended December 31,                                       
​                                                                          ​   2024             2023                    2022                 
​                                                                              (P$million)                                                   
Cash flows provided by operating activities                                ​   ​      811,496        ​