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TOTAL PLAY SUCCESSFULLY CONCLUDES DEBT EXCHANGE FOR US$821 MILLION, EQUIVALENT TO 94.3% OF ITS EXCHANGE OFFER

PR NEWSWIRE by PR NEWSWIRE
February 10, 2025
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—US$566 million of Existing Notes were exchanged and an additional US$255 million in cash was subscribed—

MEXICO CITY, Feb. 10, 2025 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), Mexico’s leading telecommunications company, which offers internet access, pay TV and telephony services, through one of the largest 100% fiber optic networks in the country, announced today that it has successfully completed the exchange of $821 million of its exchange offer. The agreement included the exchange of $566 million of Existing Notes and the subscription of an additional $255 million in cash.

As announced on January 7, the Company launched an exchange offer of its US$600 million Senior Notes due 2028 with interest rate of 6.375% (the “Existing Notes”) for new Senior Secured Notes due 2032 with interest rate of 11.125% (the “New Notes”).

The successful exchange of the New Notes announced today was made at par, has a quarterly principal payments amortization schedule between 2029 and 2032, and offers an annual interest rate of 11.125%. The agreement included the subscription of an additional 45% cash by holders of the Existing Notes, to be exchanged for the New Notes. The issuance contemplates both cash flow and fiber optic network collateral.

The exchange will further improve Total Play’s liquidity profile and extend debt maturities, which strengthen its capital structure. With this transaction, the company demonstrates its flexibility and financial discipline that have generated operational efficiency and exceptional results, which give it the capabilities to access sophisticated long-term financial markets.

The company believes that, together with its growing cash flow generation, the exchange results in a fully funded short and medium-term business plan for Total Play. In this context, the company’s management will focus on driving value creation through its operations with greater efficiency, and on generating solid financial results, for the benefit of all its investors.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx. Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

 Investor Relations:

Press Relations:

SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.



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Tags: S.A.P.I. de C.V.Total Play Telecomunicaciones
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