| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2014 > News item |
Mexico’s Axtel seeks consents for notes due 2020 to incur debt
By Toni Weeks
San Luis Obispo, Calif., June 9 – Axtel, SAB de CV said it began a consent solicitation on Friday to the indenture governing its dollar-denominated senior secured notes due 2020.
The purpose of the solicitation is to enable the company to incur additional debt secured by the collateral that secures the notes, according to a press release.
If the consents are obtained, Axtel plans to commence an offering of up to $150 million of additional notes. Net proceeds would be used principally for capital investments in telecommunication and information technologies related to integrated-services projects for its corporate and government customers, working capital and general corporate purposes.
Holders of record as of 5 p.m. ET on June 6 who deliver a valid consent prior to the expiration date, 5 p.m. ET on June 17, will receive a $10.00 cash payment per $1,000 principal amount of notes for which consents are delivered.
The consent solicitation is conditional on the receipt of consents representing a majority in principal amount of the outstanding notes and the incurrence of up to $150 million principal amount of additional debt by July 21. The company said it expects that debt to be additional notes issued under the indenture.
Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) and Credit Suisse Securities (USA) LLC (800 820-1653 or 212 538-2147) are the solicitation agents. D.F. King & Co., Inc. (800 829-6554, 212 269-5550 for banks or brokers or axtel@dfking.com) is the information and tabulation agent.
Axtel is a telecommunications company based in San Pedro Garza Garcia, Mexico.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.