NEW YORK: Bonds from Mexican billionaire Ricardo Salinas’ telecom Total Play Telecomunicaciones soared to the highest in a year, days after the Internet and cable provider launched a debt exchange offer that investors say is a crucial step towards rebuilding its reputation with the market.
Total Play’s bonds due in 2025 jumped 17 US cents to trade at 77 US cents on the US dollar on Tuesday, according to Trace data, as bondholders warmed to a company’s offer to swap the outstanding notes for new ones due in 2028.
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