Linklaters Advises BBVA, Citigroup, Deutsche Bank, J.P. Morgan and Santander on Telecom Argentina S.A.’s US$800 Million Bond Issuance

Linklaters advised BBVA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, and Santander US Capital Markets LLC in connection with Telecom’s 144A/Regulation S cross-border offering of US$800 million 9.250% senior notes due 2033. The offering was launched on May 19, 2025, priced on May 22, 2025, and closed on May 28, 2025. The notes are expected to be listed on the Bolsa y Mercados Argentinos S.A. (BYMA) and the Luxembourg Stock Exchange, and admitted for trading on A3 Mercados S.A. 

Telecom has been at the forefront of the telecommunications industry in Argentina, Paraguay, and Uruguay, offering fixed-line telephony, mobile communications, optical fiber, cable television, and broadband services. The proceeds of the offering will be used to partially prepay existing loans in connection with Telecom’s acquisition of Telefónica Móviles Argentina S.A.

The Linklaters deal team was led by partners Matthew Poulter and Emilio Minvielle, supported by associates Madeleine Blehaut and Thomas Tiphaine Koffman. Additional tax assistance for the deal was provided by partner Gabriel Grossman.

Linklaters’ lawyers have practiced in Latin America for decades and the firm was one of the first international firms to open an office in Brazil in 1997. With a growing team of Latin America-focused lawyers across the firm’s New York, Washington, D.C., and São Paulo, the firm continues to increase its presence in the Latin America region and deepen existing relationships with leading local law firms. Linklaters is highly ranked across key Latin America legal directories including Chambers, Legal 500, and Latin Lawyer.