Paul Hastings Represents Banks in Axtel, S.A.B. de C.V. Bond Offering
New York, NY-- Paul Hastings LLP, a leading global law firm, announced today that it represented Citigroup and Credit Suisse as initial purchasers in a new $150 million issuance of senior secured bonds in connection with a financing for Mexican telecommunications company Axtel, S.A.B. de C.V. The new financing of senior secured bonds was issued as a reopening of Axtel’s Senior Secured Notes due 2020, which are step-up notes that currently have a coupon of 8% that will rise to 9% on January 31, 2015. In June 2014, the company conducted a consent solicitation of the existing holders of Senior Secured Notes due 2020 to allow this new issuance and additional secured debt to be secured by the same collateral securing the existing Senior Secured Notes due 2020, and Paul Hastings represented Citigroup and Credit Suisse as solicitation agents in that successful consent solicitation.
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