Alestra Gets 36% in Buyback

Mexico’s Alestra plans to repurchase $70m of its 8% 2010 bonds, following the conclusion of a tender offer, according to an investor relations official. The amount represents 36% of the bonds, or $109m of the original $340m principal. The telecom owned by Grupo Alfa and AT&T launched the offer for the entire outstanding amount in July. It is funded by proceeds from an August 12 sale of $200m in new 9.50% of 2014 bonds. Citi and Morgan Stanley managed the both the tender offer and the new issue.