Maxcom Hits 60%

Maxcom Hits 60%

Mexico Bonds

Maxcom Telecomunicaciones has reached 60% acceptance in its 2014 bond exchange offer as of Wednesday’s early deadline, it says. Holders representing $120m have accepted the deal, open through March 27. Following its sale last year to private equity buyers, Maxcom is targeting the $200m in 11.0% 2014s and offering holders new 2020 step-up notes, at a rate of $1,000 per $1,000 principal before the early deadline, and $930 per $1,000 after. The 2020 bonds pay 6.0% during the first three years, 7.0%

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