Axtel Progresses in Step-Up Exchange

Axtel Progresses in Step-Up Exchange

Mexico Bonds

Mexican telecommunications company Axtel has received acceptance from holders of $83m of the 7.625% 2017 notes it is targeting in an exchange as of the early deadline, it says. In an offer launched last month, Axtel is offering new 2020 step-up bonds to holders of the 2017s and its 9.000% 2019s. It is offering holders of the $133m outstanding in 2017s $985 per $1,000 principal before the December 6 early deadline and $910 after. Accepting holders of the $135m outstanding in 2019s would get $875

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