May 28, 2021
Mexican telecommunications company Maxcom Telecomunicaciones said late Wednesday that it decided not to make a $2.3 million payment on its 8% 2024 bonds after the end of a 30-day grace period.
"Maxcom's liquidity has been negatively affected by the pandemic and by restricted access to sources of capital as a result of a dispute with the Mexican tax authorities," the Mexico City-based company said in a statement.
As a result, Maxcom has to use its cash resources to remain in business, it added.
Mexican telco decides not to pay $2.3 mln due on its 2024 notes after a 30-day grace period