Axtel Launches Tender

Axtel Launches Tender

Mexico Bonds

Axtel is looking to replace its 7.625% 2017 and 9.000% 2019 bonds, and is offering holders new 7.000% 2020 bonds and cash in a tender offer. The Mexican telecom is paying $550 per $1,000 – comprised of $466 in senior secured 2020 bonds, $34 in peso-denominated dollar-indexed 2020s and $50 cash, it says. An additional $100 cash will be paid to holders accepting before a January 11 early deadline. The full offer expires January 28. Axtel plans to issue up to $357m in the dollar 2020s, up to MXP336

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