Telecom Argentina intends to prepay $80 million of series A, B notes

By Jennifer Chiou

New York, April 4 - Telecom Argentina SA plans to prepay about $80 million of its series A and series B notes on April 16, according to a 6-K filing with the Securities and Exchange Commission.

Affected notes include 4.0555% each of the original issue amount of the series A notes, which are denominated in dollars, euros, Argentine pesos and Japanese yen, as well as 4.26% of the original issue amount of the series B notes.

The company said it will pay the corresponding interest payment on the same date.

After the note payment, there will be 67.4495% of each denomination of series A notes outstanding and 27.615% of the series B notes outstanding.

The Buenos Aires telecommunications operator said that this note payment will result in the payment of the remaining 25% of the principal amortization payment scheduled to be paid on Oct. 15, 2009 and the payment of 31.8% of the principal amortization payment scheduled to be paid on April 15, 2010.

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