Telecom Argentina to prepay series A, B notes

By Susanna Moon

Chicago, Oct. 7 - Telecom Argentina SA said it plans to make a prepayment of its outstanding series A notes due 2014 and series B notes due 2011 on Oct. 15.

The company said the prepayment will result in the payment of the remaining 55% of the principal amortization payment scheduled to be paid on Oct. 15, 2011.

On the same date, Telecom Argentina said it intends to make the corresponding interest payment.

For the series A notes, Telecom Argentina plans to pay down 3.927% of the original principal amount, after which 41.16% will be outstanding.

For the series B notes, the company plans to pay down 4.125% of the original principal amount, after which none of the original principal amount will be outstanding.

Buenos Aires-based Telecom Argentina is the parent company of a telecommunications group in Argentina.

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