Several firms on credit line granted to Metrotel
Several firms have advised on a secured credit facility of up to USD 50 million, extendable by up to USD 110 million, from the Inter-American Investment Corporation (IDB Invest), together with Banco Itaú and others, to CPS Comunicaciones (Metrotel).
The proposed financing, granted on 5 December, is secured by a series of guarantees of up to USD 50 million, as well as an uncommitted working capital facility of up to USD 10 million and uncommitted parallel loans of up to USD 50 million. Citibank, NA, a branch of Citibank, NA, established in the Republic of Argentina, acts as agent for the guarantee.
Marval O’Farrell Mairal advised Metrotel, Clifford Chance advised IDB Invest in the US, Bruchou & Funes de Rioja advised IDB Invest in Argentina, and TCA Tanoira Cassagne advised Citibank in Argentina.
Metrotel will use the funds to finance the deployment of fibre optic infrastructure and other capital expenditures (CAPEX) to expand and maintain its operations in Argentina, as well as to refinance existing debt. The main objective of the project is to strengthen Metrotel’s capacity to deliver essential digital services, fostering digitisation, economic competitiveness and regional integration.
The company has been providing telecommunications services to Argentina’s leading companies for more than 30 years and develops products and services for different business segments, seeking customer satisfaction, continuous growth and technological innovation. It also has a fibre optic network of more than 8000 km, with its own solid infrastructure, which allows it to offer reliable and high availability services.
Diego Noseda and Pascual Mendez acted as in-house advisors to BID Invest.
Marval’s team consisted of partners Hernán Slemenson (pictured top left) and Sergio Tálamo (pictured top centre), together with associates Juan Pablo Lentino and Candela Di Cuffa.
Clifford Chance’s team was represented by partner Jessica A. Springsteen (pictured top right) together with associate Daniela Hernández.
Bruchou’s team included partner Analia Battaglia (pictured bottom left) and associates Quimey Waisten, Malena Tarrio and Pedro Azumendi.
TCA’s team was led by partners Alexia Rosenthal (pictured bottom centre) and Ignacio Criado (pictured bottom right), together with associate Teófilo Trusso.
