Mexico's TV Azteca calls $300 million 10½% notes

By Reshmi Basu

New York, Nov. 23 - TV Azteca SA de CV said it will redeem its $300 million 10½% series B guaranteed notes due Feb. 15, 2007 on Dec. 23.

Those notes are callable at price of 101.75 up to Feb. 15, 2005.

TV Azteca will fund the redemption with borrowings from a peso-denominated committed secured credit line facility with Banco Inbursa SA and from the issuance of structured securities certificates in the Mexican debt markets.

"The new sources of financing represent extended maturities with gradual payment schedules, further enhancing our progressive debt reduction efforts," said Carlos Hesles, chief financial officer, in a news statement.

Mexico-City based TV Azteca is one of the largest producers of Spanish-language television programming.

© 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.