MEXICO CITY, June 14, 2017 (GLOBE NEWSWIRE) -- TV Azteca, S.A.B. de C.V. (BMV:AZTECA CPO) (Latibex:XTZA), one of the two largest producers of Spanish-language television programming in the world, announced today that on July 14, it will pay in advance US$60 million of its US$300 million senior notes, with a coupon of 7.5% and due in 2018, at a call price of 100%. The prepayment will be made with cash generated by the operation of the company.
The transaction announced today, is added to the cancellation for US$42.4 million, of the same Senior Notes, carried out in March, with which TV Azteca will accumulate a debt reduction of US$102.5 million so far this year.
"The operation reflects the solid financial performance of TV Azteca and our firm commitment to reduce total dollar-denominated debt, and to further strengthen the company's capital structure," commented Esteban Galíndez, CFO of TV Azteca.
Company Profile
TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating three national television networks in Mexico, Azteca Trece, Azteca 7 and adn40, through more than 300 owned and operated stations across the country. TV Azteca affiliates include Azteca America, a broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.
TV Azteca is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, contributing to build the middle class of the countries in which they operate and improving society through excellence. 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. The companies include TV Azteca (www.tvazteca.com; www.irtvazteca.com), Azteca America (us.azteca.com), Grupo Elektra (www.elektra.com.mx; www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Totalplay (www.totalplay.com.mx) and Enlace TP (enlacetp.mx). Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, the member companies share 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 forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Other risks that may affect TV Azteca and its subsidiaries are identified in documents sent to securities authorities.