Telecom Argentina Debt Sale Defies Telefonica Deal Scrutiny

(Bloomberg) — Telecom Argentina SA is tapping international debt markets following its acquisition of Telefonica SA’s local unit, a transaction that has stoked fierce opposition from President Javier Milei’s government.

The company is selling $800 million of bonds due in 2033, according to people familiar with the matter. Pricing guidance suggests that the notes will carry a yield of around 9.5%, the people added, asking not to be identified because they are not authorized to speak publicly.