Transtelco extends Maxcom tender offer until 5 November

28 Oct 2021

Texas-based Transtelco Holding has extended its previously announced cash tender offer for the outstanding 8% Senior Secured Notes (due 2024) issued by Mexican telco Maxcom Telecomunicaciones, until 5 November 2021. As per a previous statement, the Senior Secured Notes are valued at around USD515 million. The offer is being carried out in conjunction with – and is expressly conditioned upon the closing of – a deal for 85% of the capital stock of Maxcom, which is pursuant to a public mandatory tender offer. The new closing date for the takeover is expected to be 10 November.

Headquartered in El Paso, Texas, Transtelco currently offers dedicated internet access, long-haul and metro transport and telephony services via a 15,000-mile fibre network that connects major cities including Los Angeles, Dallas, Tijuana and Mexico City. Maxcom, which launched in May 1999, presides over an 8,500km fibre-optic network and has PoPs in the main cities of Mexico.

According to TeleGeography’s GlobalComms Database, in August 2019 Maxcom and its subsidiary Maxcom USA Telecom filed voluntary petitions under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the Southern District of New York. The restructuring of the company’s old notes was completed in October 2019 and the Chapter 11 cases were closed the following month, finalising the debt restructuring process.

Mexico, Maxcom, Transtelco Holding