Innova Ups Buyback

Mexican satellite television operator Innova, controlled by Televisa, is to buy back all its senior 2013 notes in circulation in the market. Last month the company said it was to buy back $195 of the $300 million senior notes outstanding to help refinance its debt and reduce costs. Innova decided to increase the buyback after an overwhelming uptake from noteholders and extended the deadline to April 25. Innova will use a 10-year bank loan, guaranteed by Televisa, to fund the buyback.