Telecom Argentina Debt Sale Defies Telefonica Deal Scrutiny

Telecom Argentina SA tapped international debt markets following its acquisition of Telefonica SA’s local unit, a deal that has stoked fierce opposition from President Javier Milei’s government.

The company sold $800 million of bonds due in 2033, according to people familiar with the matter. The notes priced at 98.862 cents on the dollar with a 9.5% yield, the people added, asking not to be identified because they are not authorized to speak publicly.