Curtis Advises Telconet on US$120 Million International Syndicated Loan Facility

Curtis, Mallet-Prevost, Colt & Mosle LLP is pleased to announce that it served as counsel to Grupo Telconet in the successful closing of a US$120 million international syndicated loan facility. The landmark transaction, which closed with an initial tranche of US$50 million with the potential to upsize to US$120 million, represents a significant milestone in infrastructure financing for Latin America's telecommunications sector.

The five-year financing will support Telconet and its affiliate Megadatos as they execute their long-term strategic vision of expanding fiber-to-the-home (FTTH) and B2B services across Ecuador, and advancing the Carnival Submarine Networks (CSN-1) project—a next-generation submarine fiber optic cable connecting Ecuador, Panama, Colombia, and the United States.

ArtCap Strategies acted as Sole Lead Structuring Agent and Administrative Agent on the transaction, which attracted strong support from international banks and investors, reflecting confidence in Telconet's financial strength, market leadership, and innovative investments in digital infrastructure.

Tomislav Topic, CEO of Telconet, commented: "This financing is a decisive moment for Telconet on its path to becoming a regional leader in the digital infrastructure space. It represents a vote of confidence from international banks and investors in our long-term vision. This new capital structure provides enhanced flexibility, allowing us to continue investing in innovation and further increase our presence."

Alejandro Jaramillo, Managing Partner of ArtCap Strategies, added: "ArtCap is proud to have worked with Grupo Telconet on this historic transaction. This financing not only strengthens Telconet's ability to execute its ambitious expansion plan, but also reinforces its position as a leader in digital connectivity in Latin America by providing a significant amount of data capacity to the region."

The Curtis team included partner Elisa Botero, senior associate Pablo Calderon, and associate Susana Echavarria Medina, with partner Valarie Hing providing support.

This transaction exemplifies Curtis' deep cross-border capabilities in project finance and infrastructure development across Latin America. The firm has extensive experience advising clients on strategically significant infrastructure projects in the telecommunications, energy, transportation, and other critical sectors, with a proven track record of developing innovative financing structures tailored to local market requirements while meeting international standards.