Telecom Argentina to prepay series A, B notes

By Laura Lutz

Des Moines, April 8 - Telecom Argentina announced that it plans to make a prepayment of its outstanding series A notes due 2014 and series B notes due 2011 on April 15.

This payment will include the remaining 26.4% of the principal amortization payment scheduled for Oct. 15, 2010, the payment in whole of the principal amortization payment scheduled for April 15, 2011 and the payment of 45% of the principal amortization payment scheduled for Oct. 15, 2011.

For its series A notes, Telecom Argentina plans to pay down 12.238% of the original principal amount, after which 45.087% of the original principal amount will be outstanding.

For its series B notes, the company plans to pay down 12.855% of the original principal amount, after which 4.125% of the original principal amount will be outstanding.

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

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

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