Telecom announced a $125mn investment to finance works that include "the deployment of the 4G mobile network and the expansion of broadband services." Biomasa Rojas will reactivate two projects for power generation or chemical production, for a total of $45mn. German company DHL will invest $5.7mn in its new Parque Ciudad distribution centre in Buenos Aires city. The real estate developer Haras del Sur will allocate $3mn to the construction of the "Paseo Comercial Haras del Sur" shopping centre.
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.