Axtel Rings 2013 Notes

Mexican fixed-line telecom Axtel has kicked off a cash tender offer for any and all of its outstanding 11% senior notes due 2013, along with a consent solicitation to amend the indenture governing. The issuer is offering 105.75% of the principal including a consent payment equal to 3.0%. Holders will also receive accrued and unpaid interest. There is approximately $162.5m aggregate principal of the notes outstanding and the consent solicitation expires September 16 while the tender offer closes September 30. Credit Suisse is dealer manager.