Telefonica de Argentina S.A. Announces U.S. Dollar-Argentine Peso Exchange Rate for Its Argentine Peso Tender Offer for Its 8.850% Conversion Notes Due August 2011, 9.125% Notes Due November 2010 and 8.850% Notes Due August 2011
BUENOS AIRES, Argentina, Oct. 20 /PRNewswire/ -- Telefonica de Argentina S.A. (the "Company") announced today that in connection with its previously announced Argentine peso cash tender offer (the "Argentine Peso Offer") 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") it determined, utilizing the EMTA ARS Industry Survey Rate, the U.S. dollar-Argentine peso exchange rate (the "Exchange Rate") to be used for the purpose of calculating the price in Argentine pesos at which the Company will purchase Notes from Holders who have validly tendered their Notes in the Argentine Peso Offer. The Exchange Rate is Argentine Ps.3.8204 per US$1.00.
Withdrawal rights for the Notes tendered in the Offers terminated at 5:00 p.m., New York City time (6:00 p.m. Buenos Aires time) on October 7, 2009. The Offers are scheduled to expire at 11:59 p.m. New York City time on October 22, 2009 (12:59 a.m. Buenos Aires time, on October 23, 2009), unless extended by the Company (the "Expiration Date"). The Offers are governed by the times and dates referred to herein and in the Offer to Purchase based on New York City time. Times and dates based on Buenos Aires time are provided solely for your convenience.
This press release is for informational purposes only and is not an offer to purchase any Notes. The Offers are being made only through the Offer to Purchase and a related Letter of Transmittal dated September 24, 2009 (the "Letter of Transmittal"), each as amended and supplemented, and the information in the Offer to Purchase and the Letter of Transmittal is hereby supplemented by the information contained in this press release. Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in the Offer to Purchase.
The Offers are not being made to Holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or blue sky laws or other laws of such jurisdiction. In any jurisdiction where the laws require the Offers to be made by a licensed broker or dealer, the Offers will be 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.
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