Telecom pays back loan

Telecom pays back loan

Loans Mobile Telecoms Argentina World Bank

Telecom Argentina said it paid off a $140 million loan to a syndicate of banks led by Citi, days after borrowing $185 million from the International Finance Corporation (IFC), the private sector division of the World Bank. The Buenos Aires-based telecommunications company took out a $500 million loan from six banks — Citi, HSBC, ICBC, DIFC, JPMorgan and Santander — in October 2018. The four-year loan charged 450 basis points over Libor for the first year before it stepped up to 500 basis points

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