Axtel Exchange Reaches 65%

Axtel Exchange Reaches 65%

Mexico Bonds M&A

Mexico's Axtel has received acceptance from holders of 65% of the debt it is targeting in a bond exchange offer, it says, following the completion of the early acceptance deadline. In the offer scheduled to expire today, the telecom is targeting its outstanding 7.625% 2017 and 9.000% 2019 bonds. It is offering $594.61 per $1,000 principal, comprised of $500 in senior secured 2020 bonds, $44.61 in peso-denominated dollar-indexed 2020s and $50 cash. Holders accepting before the early deadline rece

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