EGFA Abogados advised Telecom Argentina S.A., and Beccar Varela advised the placement agents, in the international issuance of Telecom Argentina S.A. notes for a principal amount of US$600,000,000.
PRESS RELEASE
Buenos Aires, January 23, 2026 — EGFA Abogados advised Telecom Argentina S.A. in the international issuance of a new class of notes under its global notes issuance program for a principal amount of up to US$4,200,000,000 (or its equivalent in other currencies or units of value).
The Class 27 notes were issued on January 20, 2026, for a principal amount of US$600,000,000, bearing a fixed annual interest rate of 8.500%, with principal amortized in two installments and maturing in 2036.
Telecom also received legal advice under foreign law from Cleary Gottlieb Steen & Hamilton LLP.
In turn, Beccar Varela, locally, and Linklaters LLP, under foreign law, advised BBVA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Santander US Capital Markets LLC, as international placement agents, and Banco Santander Argentina S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Macro Securities S.A.U., Balanz Capital Valores S.A.U., Latin Securities S.A. and Banco CMF S.A., as local placement agents.
The Class 27 Notes were rated on January 12, 2026, by Moody’s Ratings as “B2”.
Advisers to Telecom Argentina S.A.:
EGFA Abogados, as legal adviser in Argentina, through its partners Baruki González and Ximena Digón, and its associates María Constanza Martella, Marina Galíndez and Agustina Weil.
Cleary Gottlieb Steen & Hamilton LLP, as legal adviser in the United States, through its partner Juan G. Giráldez, and its associates Carla Martini, Lara Gomez Tomei and Matías Chaves.
Advisers to the placement agents:
Beccar Varela, as legal adviser in Argentina to the local placement agents, through its partner Luciana Denegri, and its associates María Victoria Pavani, Julián Alejandro Ojeda and María Carolina Pilchik.
Linklaters LLP, as legal adviser in the United States to the international placement agents, through its partners Matt Poulter and Emilio Minvielle, and its associates Thomas Tiphaine-Koffman and Francisco Algorta.