TV Azteca seeks to reach an agreement with creditors after filing for bankruptcy

Mexico City – Telecom Company Aztec TV He said he was seeking a favorable settlement with bond creditors after declaring bankruptcy.

TV Azteca, one of the largest producers of Spanish-language television content in the world, reaffirms its commitment and willingness to dialogue in order to reach a win-win agreement with holders of bond debt due in 2024, the Mexican billionaire’s company said. Ricardo Salinas Plego It’s a statement.

Thistle Planisfer Investments, Cyrus Opportunities Master Fund II, and Sandpiper Limited For $63 million in unsecured bonds, he has filed for the Mexican company to begin proceedings under Chapter 11 of the US Bankruptcy Code, according to Bloomberg.

The three plaintiffs filed the motion because TV Azteca had not paid its debts by the due dates.

The court issued a notice to TV Azteca on March 21 and assigned Judge Lisa G. Beckerman to hear the case. The company, listed on the Mexican stock exchange, has 21 days to respond to the process, according to a US court document.

“We will respond responsibly and firmly to all legal actions, knowing that we have the moral and legal reason, and that the judicial authorities will confirm this,” TV Azteca added in the document.

TV Azteca announced in February 2021 the postponement of the payment of the interest voucher because it expires in 2024 and obtained for it US$ 400 million in August 2017, after proposing to reorganize its debt and negotiating with the holders in light of the context and the situation from Mexico. a company.

The financial information for the fourth quarter of 2022 for the Mexican company is unknown after it was postponed to TV Azteca on the grounds that it is in the “preparation process”.

Salinas Pleijo is one of the richest men in Mexico with a net worth of $10.9 billion USD according to the Bloomberg Billionaires Index. His company ranks second among the media outlets that have received the most money from the government of Andrés Manuel López Obrador for spreading official propaganda, In accordance with Art. 19 and Fundar.