Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 348

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 348
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 Level 1.
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b)   The fair value of Notes that are not traded in an active market was measured based on quotes provided by first-tier financial entities, so their valuation qualifies as Level 2.
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c)   Fort the rest of the borrowings, the fair values were calculated based on cash flows discounted using a current lending rate, so as they are classified as level 3.
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F-

TELECOM ARGENTINA S.A.

c)   Hedge accounting
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Derivatives are used by Telecom and its subsidiaries to manage their exposure to exchange rate and interest rate risks.
The position of DFIs in the consolidated statements of financial position and amounts recognized in Consolidated Income Statements and Consolidated Statements of Comprehensive Income, are detailed below:
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                    ​                        ​      ​      ​       ​  
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​                                           As of December 31,        
​                                           ​      2024   ​       2023
Other receivables current - DFI: SOFR              —             3,374
Other receivables non current - DFI: SOFR          —      952         
Total assets                                       —             4,326
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                ​                    ​        ​       ​        ​       ​        ​    
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​                                   Years ended December 31,                         
​                                   ​         2024   ​         2023   ​          2022
​                                   ​                                   Profit (loss)
Foreign currency exchange effect             2,995           17,273          (10,544)
Interests on borrowings                    (2,747)          (2,705)             (997)
Financial results                   248                      14,568          (11,541)
DFI effects classified as hedges           (5,913)            2,859             4,122
Other comprehensive income (loss)          (5,913)            2,859             4,122
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●   Interest rate swaps – cash flow hedges
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In August 2024, the Company cancelled the several DFI agreements, 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 agreements entered into covered a total amount of US$184.5 million. The interest rates were set at 3.605%, 3.