Axtel Completes Tender

Axtel Completes Tender

Mexico Bonds

Mexico's Axtel has received acceptance from holders of $142m (51.6%) of its 7.625% 2017 bonds and $355m (72.5%) of its 9.00% 2019 bonds targeted in a tender offer, it says. The Mexican telecom offered holders $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 receive an additional $116 per $1,000 principal. The 2020 notes start at 7.0%, and step up to 8.0% after th

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