Cahill Represents Axtel in Exchange Offers and Consent Solicitations
Date: 01/31/13
Cahill represented Axtel, S.A.B. de C.V. as U.S. counsel in connection with exchange offers by its wholly owned subsidiary Axtel Capital, S. de R.L. de C.V. to exchange Axtel’s outstanding 7.625% Senior Notes due 2017 and 9.00% Senior Notes due 2019 for a combination of Axtel Senior Secured Notes due 2020 and Peso-denominated Senior Secured Convertible Dollar-indexed Notes due 2020, and a cash payment. The Company paid the cash payment for the exchange offers and repaid its credit facility and related hedges with the proceeds from a concurrent $250 million sale and leaseback transaction. As a result, Axtel reduced its outstanding debt by approximately $310 million.