Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 211

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 10
Chunk 211
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 amounts thus refinanced; and (vii) the issuance of debt titles with public registration abroad or in Argentina, denominated in foreign currency, and payable in Argentina or abroad, to the extent that the registration of the customs entry of goods for a value equivalent to the financing received is demonstrated.
Additionally, the prohibition does not apply to obligations in foreign currency between residents executed through public deeds or public registries on or before August 30, 2019, and to foreign currency loans granted by local financial entities that were outstanding as of August 30, 2019.
Access to the FX Market before the scheduled payment date shall be subject to prior authorization by the BCRA, except in certain situations and to the extent the relevant conditions are met, including, without limitation:
1)    in the case of loans granted by local financial entities, the prepayment is made simultaneously with the settled proceeds of a new foreign financial debt, the average life of the new debts exceeds the remaining average life of the debt being prepaid, and the accumulated amount of the principal maturities of the new debt shall not exceed at any time the amount that would have accumulated the principal maturities of the debt being prepaid;
2)    if the prepayment is made within the process of a securities exchange, see “—Payment of principal and interest under external financial indebtedness” above;
3)    if the prepayment is made in the context of the simultaneous settlement of a new external financial indebtedness, see “—Payment of principal and interest under external financial indebtedness” above; and
4)    if the prepayment is made in the context of the simultaneous settlement of a new debt title, see “—Payment of principal and interest under external financial indebtedness” above.

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PART I - ITEM 10 ADDITIONAL INFORMATION   TELECOM ARGENTINA S.A.
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Access to the FX Market by local trusts for principal and interest payments
Pursuant to Section 3.7 of Communication “A” 8035, local trusts created to guarantee principal and interest payments by resident debtors may access the FX Market in order to make such payments at their scheduled maturity, to the extent that, pursuant to the current applicable regulations, the debtor would have had access to the FX Market to make such payments directly. 
Derivatives transactions
Section 3.12 of Communication “A” 8035 provides that derivative transactions, including payment of premium, constitution of guarantees and settlement of futures, forwards, options and other derivatives, that settle