BUENOS AIRES, Oct. 23 /PRNewswire/ -- Telefonica de Argentina S.A. (the "Company") announced today the expiration of its previously announced cash tender offers (each an "Offer" and together, the "Offers") for its outstanding 8.850% Conversion Notes due August 2011 (the "2011 Conversion Notes"), 9.125% Notes due November 2010 (the "2010 Notes") and 8.850% Notes due August 2011 (the "2011 Notes", and together with the 2011 Conversion Notes and the 2010 Notes, the "Notes") as specified in the offer to purchase dated September 24, 2009, as amended and supplemented by the Company's press releases dated September 28, 2009, October 8, 2009 and October 20, 2009 (the "Offer to Purchase"). The Offers expired at 11:59 p.m., New York City time, on October 22, 2009 (12:59 a.m., Buenos Aires time, on October 23, 2009) (the "Expiration Date"). The full terms and conditions of the Offers are set forth in the Offer to Purchase and related letter of transmittal dated September 24, 2009, as amended and supplemented (the "Letter of Transmittal").
The table below identifies with respect to each series of Notes the principal amount of Notes validly tendered in each Offer and the principal amount that the Company has accepted for purchase under the terms of the Offer to Purchase. The principal amounts of each series of Notes accepted for purchase in the Offers were determined based on the aggregate principal amount of each series of Notes validly tendered and not validly withdrawn on or before the Expiration Date, in accordance with the priorities identified in the "Acceptance Priority Level" column in the table below and subject to the applicable Maximum Tender Amount.
Upon settlement of the Offers, which is expected to occur on October 27, 2009, the Company will pay the consideration for the Notes accepted for purchase, together with accrued and unpaid interest. In the case of the U.S. Dollar Offer, payment will be made to The Bank of New York Mellon for further credit to the appropriate accounts at The Depositary Trust Company. In the case of the Argentine Peso Offer, payment will be made to the accounts of Euroclear and Clearstream at a financial institution in Argentina, for further credit to the accounts of their respective participants.
Principal
Amount
Aggregate Tendered
Title CUSIP/ Acceptance Principal in U.S.
of ISIN Priority Amount Dollar
Security Numbers Level Outstanding Offer
8.850% 879378AL1 1 US$28,576 US$28,576
Conver- US879378AL14
sion
Notes
due
August
2011
9.125% 879378AJ6 2 US$195,507,000 US$45,014,000
Notes US879378AJ67
due
Nov.
2010
8.850% 879378AK3 3 US$134,644,000 US$16,764,000
Notes US879378AK31
due
August
2011
Principal Principal
Amount Amount
Principal Tender- Accept-
Amount ed in ed in
Accepted Argen- Argen-
Title CUSIP/ in U.S. tine tine
of ISIN Dollar Peso Peso
Security Numbers Offer Offer Offer
8.850% 879378AL1 US$28,576 -- --
Conver- US879378AL14
sion
Notes
due
August
2011
9.125% 879378AJ6 US$45,014,000 US$3,200,000 US$3,200,000
Notes US879378AJ67
due
Nov.
2010
8.850% 879378AK3 US$16,764,000 US$1,176,000 US$1,176,000
Notes US879378AK31
due
August
2011
This press release is for informational purposes only and is not an offer to purchase any Notes. The Offers were made only through the Offer to Purchase and Letter of Transmittal. Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in the Offer to Purchase.
The Offers were not made to Holders in any jurisdiction in which the making or acceptance thereof was not in compliance with the securities or blue sky laws or other laws of such jurisdiction. In any jurisdiction where the laws required the Offers to be made by a licensed broker or dealer, the Offers were deemed to be made on behalf of the Company by the dealer manager or one or more registered broker dealers under the laws of such jurisdiction.
About Telefonica de Argentina S.A.
Telefonica de Argentina S.A. was incorporated in Argentina in 1990 as an Argentine sociedad anonima (a limited liability company). Telefonica de Argentina S.A. has a non-expiring license to provide telecommunications services throughout Argentina. Telefonica de Argentina S.A. also provides other telephone-related services such as international long-distance service, data transmission and Internet service.
SOURCE Telefonica de Argentina S.A.
Telefonica de Argentina S.A.
