Telecom Personal Argentina

completed

This project involves a proposed A loan by IFC of up to $100 million to Telecom Personal S.A. (“Personal” or the “company”), the mobile subsidiary of Telecom Argentina S.A., along with B loans and parallel loans of up to $400 million, to fund a project involving up to $600 million between capital expenditures for the development of the company’s 4G LTE network and other network capex, and the refinancing of certain short term debt. New infrastructure in this project will include new and improved telecommunications equipment to be installed on many of the approximately 4100 existing Personal base stations/telecommunications towers, and improvements in the backhaul connections between those sites. In addition, approximately 640 new sites per year are expected to be developed in the next 3 years.