Cleary represents Telecom on $50m export credit facility
Cleary Gottlieb has represented Telecom Argentina (Telecom) in a $50 million export credit facility with Export Development Canada, acting as lender, and Citibank Sucursal Argentina, acting as onshore custody agent.
The transaction closed on 8 May and the funds will be applied to finance payments due from Telecom for goods and services delivered under a supply agreement between Telecom and Nokia.
Telecom was advised locally in Argentina by EGFA Abogados, while Marval O’Farrell Mairal acted as counsel to Export Developmente Canada.
Telecom is engaged in the provision of fixed and mobile telecommunications services, cable television services and broadband services in Argentina.
Marval O’Farrell Mairal’s team comprised partner Sergio Tálamo and associates Martín Iván Lanús and Juan Pablo Lentino.
EGFA Abogados’ team included partner Ximena Digón and associate Marina Galíndez.
Cleary’s corporate team included partner Juan Giráldez (pictured), counsel Emilio Minvielle, law clerk José Juan Vázquez Orendain, and stagiaire Micaela Mingramm. Counsel Matthew Brigham and associates Samuel Kramer and Kathy Zhang advised on tax matters. Partner Chase Kaniecki and associate Samuel Chang advised on sanctions matters. All lawyers are based in New York except Juan Giráldez, who is based in Sao Paulo, and Chase Kaniecki and Samuel Chang, who are based in Washington, D.C.
