Maxcom misses bond payment

Maxcom misses bond payment

Bonds Debt Corporate & Sovereign Strategy Telecoms Mexico United States

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. 

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