Axtel Looks to Swap Holders into Step-Ups

Axtel Looks to Swap Holders into Step-Ups

Mexico Bonds

Mexico's Axtel has launched an exchange offer to holders of its 7.625% 2017 and 9.000% 2019 bonds, it says, in order to replace the debt with 2020 step-up bonds. The telecom is offering holders of the $133m outstanding in 2017s $985 per $1,000 principal before a December 6 early deadline and $910 after. Accepting holders of the $135m outstanding in 2019s would get $875 per $1,000 principal through the early deadline and $800m after. The offer expires December 20. During the offer period, Axtel p

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