Business

Telecom places two Negotiable Obligations for $69.6mm

Telecom Argentina placed debt in local currency for AR$4.2 billion ($69.6 million) through the issuance of two negotiable obligations, one at 12 months (Badlar rate plus 4.75%) and another at 18 months (Badlar plus 5.25 %). The tender was led by a consortium composed of Macro, BACS, AR Partners and Balanz, with orders of up to AR$5.2 billion. The financing will allow the company to make investments in working capital and capex.

Source: Clarín