Mexico’s Axtel sees total tenders for $88.65 million of 6 3/8% notes

By Mary-Katherine Stinson

Lexington, Ky., Feb. 14 – Axtel, SAB de CV announced the final results of its tender offer for its 6 3/8% senior notes due 2024 (Cusips: 05462GAJ3, P0606PAC9), according to a press release.

As of the expiration of the offer at 11:59 p.m. ET on Feb. 13, $88,647,000 of notes were tendered and accepted for purchase.

This includes the $77,737,000 of notes that were tendered as of the early tender deadline at 5 p.m. ET on Jan. 30.

As previously reported, the company is offering to pay a total tender consideration of $863.75 per $1,000 note, inclusive of a $50 early tender payment, which will now be paid to all tendering noteholders. It was announced on Jan. 31 that the early tender payment deadline would be extended through the expiration of the offer.

The tender cap had also been upped to $120 million from the original $75 million.

The company is paying interest to the relevant payment date.

Early settlement was on Feb. 2. Final settlement is expected for Feb. 14.

HSBC Securities (USA) Inc. (212 525-5552, 888 HSBC-4LM) and Scotia Capital (USA) Inc. (212 225-5501, 800 372-3930) are the dealer managers for the tender offer.

D.F. King & Co., Inc. (800 870-0653, 212 269-5550, axtel@dfking.com) is the tender agent and information agent.

Axtel is a telecommunications company based in San Pedro Garza Garcia, Mexico.

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