Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 56

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 56
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 this transaction, we also paid accrued interest and related fees.
On December 16, 2024, we partially prepaid US$30.7 million of the tranches B-5 and B-6 and US$3.3 million of the tranche A from its loan agreement with IDB dated May 29, 2019. The Company has also paid the expenses for US$0.45 million.
On December 20, 2024, we redeemed US$120 million of our Class 1 Notes due 2026 (“2026 Notes”). Following this redemption, the outstanding amount is US$162,747,000.

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PART I - ITEM 4 INFORMATION ON THE COMPANY   TELECOM ARGENTINA S.A.
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For further information about our borrowing, see Note 13 of our Consolidated Financial Statements and “Item 5—Operating and Financial Review and Prospects—Liquidity and Capital Resources —Borrowings Developments during 2024”.
Recent Developments
Acquisition of Telefónica Móviles
On February 24, 2025, the Company acquired 86,460,983,849 ordinary shares of Telefónica Móviles, representing 99.999625% of its share capital. Telefónica Móviles is a company incorporated in Argentina, and provides mobile and fixed telephony, fixed broadband and video services nationwide in Argentina.
As a result of this acquisition, we believe that Telecom Argentina will have world class digital infrastructure. We expect that this expansion will strengthen our fixed and mobile broadband services, accelerate the deployment of fiber optics and 5G, and support the growth of various economic sectors in Argentina.
The purchase price for this acquisition was US$1,245 million, which was paid as follows: a) Telecom assumed a loan agreement between the seller and Telefonica Móviles in the amount of US$126 million; and b) US$1,119 million in cash consideration, which was financed through two loans, totaling US$1,170 million:
•A Syndicated Loan granted by Banco Bilbao Vizcaya Argentaria S.A., Deutsche Bank AG, London Branch and Banco Santander, S.A.; and
•A Bilateral Loan granted by Industrial and Commercial Bank of China (Argentina) S.A.U.
These loans establish, among other provisions, the obligation to comply with financial ratios i) “Net Debt/EBITDA” and ii) “EBITDA/Interest Net