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NHG advised Total Play, to place USD$575 million senior notes in the international markets
Total Play Telecomunicaciones, S.A. de C.V. (“Total Play”), provider of triple play services in Mexico, successfully place USD$575 million in aggregate principal amount of 7.500% senior notes due 2025 (the “Notes”) in the international markets.
The Notes — which were rated B2 by Moody’s and BB- by Fitch — will be used to refinance liabilities, thereby reducing the cost of debt and improving Total Play’s maturity profile, in addition to allowing the company to increase its geographical coverage across Mexico.
The issuance of the Notes was made pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.
The Notes were listed on November 19, 2020 on the Singapore Stock Exchange Securities Trading Limited (SGX-ST).
This debt issuance abroad was the first for Total Play in the international markets and was made during the volatile market days caused by the U.S. 2020 Presidential election.