Alestra Tender Gets Tepid Response

Mexico’s Alestra received consent from holders representing $67m (35%) of its $193m in 8% 2010 bonds, it says. The figures apply to the results as of the August 7 early participation deadline. The telecom jointly owned by Grupo Alpha and AT&T was offering an additional $2.50 per $1,000 for early consent, and holders will have until August 21 to tender bonds at the normal price. Alestra is funding the buyback with proceeds from the August 5 sale of $200m in new 11.75% 2014 bonds. Citi and Morgan Stanley are managing the tender as well as the new bond sale.