Azteca TV seeks $400 million debt agreement

May 3, 2022 | 8:38 am

TV station Azteca TV Seeks dialogue and reach an agreement with Bondholders foreign currency for debt restructuring what does she have 400 million dollars.

According to the newspaper redesigningIn 2021, the owners of the first batch of $16.5 million For a benefit that the TV station failed to comply with on two occasions.

However, despite the fact that the TV company has assets of 160 million dollars by the end of 2020and sufficient resources to settle payments with its creditors, Company A . chose selective prepayment who gave preference stock certificates For 1211 million pesos Fitch Ratings.

Rafael RodriguezThe general manager of the TV station told investors that the company has a firm belief that it can be achieved in the near future Favorable deals for all parties.

TV Azteca continues the constructive dialogue with holders of foreign currency notes, which began last year, which allows to reorganize its debts, in line with the context and situation of the company,

Referred to.

between the Principal bondholders Expected interest payments in dollars include: Fidelity Investments, Doubleline Capital LP, St James’s Place Plc, Invesco Ltd and Schroders Plc.

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Azteca TV has not yet recovered from the epidemic

Despite having higher revenue in the first quarter of this year, Azteca TV has yet to do so back to pre-pandemic conditions, Reassure the company.

Azteca TV announced that to strengthen income generation and keep your Operational and Financial Feasibilitywill start process Content acquisition Projects and investments halted by the pandemic will resume.

In the first quarter of this year, Ricardo Salinas Pliego’s income was 2914 million dollarsan increase of 13.7% over the 2.562 million obtained in the same period in 2021.

Thanks to the foreign exchange gain and the reduction of other expenses, the company has reached playback flow (Ebitda) from 654 million dollarsan annual increase of 14 percent registered Azteca TV Net profit from 285 million in the quarter, compared to a loss of 281 million in 2021.

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