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Mexico’s Total Play exchanges $213.5 million of notes due 2025
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – Total Play Telecomunicaciones, SA de CV said it privately exchanged $213.5 million of its $575 million notes due 2025 for $213.5 million of 10˝% notes due 2028, according to a news release.
The new notes are secured by designated receivables and have an increasing amortization schedule of 20% in 2026, 30% in 2027 and 50% in 2028.
Following the exchange, $361.5 million, or 63% of the original principal amount, of the existing notes remain outstanding. The company said it expects to refinance the remaining notes under similar conditions in the near future.
Total Play is a Mexico City-based telecom.
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