Axtel exercises equity clawback on 35% of bonds due December 2013

By Caroline Salls

Pittsburgh, Jan. 23 - Axtel SA de CV exercised the equity clawback on 35% of its bonds due December 2013 using proceeds from its recent stock placement, according to a company news release.

With the clawback, Axtel reduced the amount of outstanding bonds to $162.5 million from $250 million.

The bonds were issued in 2003 and 2005.

The San Pedro Garza Garcia, Mexico, company provides CLEC service in Mexico using fiber optic, fixed wireless and radio technologies.

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