MEXICO CITY — TV Azteca, one of the two largest producers of Spanish-language television programming in the world, announced today that on July 14, it will pay in advance US$60 million of its US$300 million senior notes, with a coupon of 7.5% and due in 2018, at a call price of 100%. The prepayment will be made with cash generated by the operation of the company.
The transaction announced today, is added to the cancellation for US$42.4 million, of the same Senior Notes, carried out in March, with which TV Azteca will accumulate a debt reduction of US$102.5 million so far this year.
“The operation reflects the solid financial performance of TV Azteca and our firm commitment to reduce total dollar-denominated debt, and to further strengthen the company’s capital structure,” commented Esteban Galíndez, CFO of TV Azteca.
