Axtel Tender Secures Majority

Axtel Tender Secures Majority

Mexico Bonds

Mexico's Axtel has received acceptance to an exchange offer from a majority of bondholders, it says, as of Friday’s close of the early deadline. The results satisfy a minimum acceptance condition and follow an improvement of the terms made earlier last week due to poor initial feedback. In an offer expiring January 28, the telecom is targeting its outstanding 7.625% 2017 and 9.000% 2019 bonds. It is offering $594.61 per 1,000 principal, up from $550 – comprised of $500 in senior secured 2020 bon

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