Telecom opens bond swap to stretch out repayments

Telecom opens bond swap to stretch out repayments

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Asset Management Telecoms Argentina US

Telecom Argentina has offered to buy back bonds maturing in 2021 or exchange them for new ones expiring in 2025 in an effort to reduce debt payments over the next few years, a period that one market source said could prove difficult for corporate issuers to access capital. The Buenos Aired-based telecommunications company said the new notes will pay a rate of 9%, compared to 6.5% on the ones it wants to swap, a sweetener to encourage investor participation.The offer, led by Citi and JPMorgan, ru

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