Telecom Personal outlines allocations under APE

Pittsburgh, Oct. 8 - Telecom Personal SA, a subsidiary of Telecom Argentina SA, achieved 100% participation in its Acuerdo Preventivo Extrajudicial solicitation process and intends to pursue an out-of-court restructuring, according to a company news release.

Holders of $45.8 million of the debt selected option A, $537.4 million chose option B and $14.1 million chose option C under the APE.

In accordance with the terms of the debt restructuring, 27.5%, or $147.8 million, will be allocated from option B to option C on a pro rata basis. The purchase price for option C will be $450 per $1,063 principal amount of the outstanding debt.

Option A will allocate $45.8 million of loans to participating holders, option B $389.6 million and option C $161.9 million.

Telecom Personal is a Buenos Aires telecommunications company.

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