Maxcom Telecomunicaciones Announces Expiration Of Tender Offer And Acceptance Of Tendered Notes

May 23, 2017 - (Newswire)

- Maxcom Telecomunicaciones, S.A.B. de C.V. (OTCQX: MXMTY, BMV: MAXCOM A) ("Maxcom" or the "Company") announced today the completion of its previously announced tender offer (the "Tender Offer") to purchase outstanding Step-Up Senior Notes due 2020 issued by Maxcom (the "Notes"), as described in Maxcom's Offer to Purchase dated April 25, 2017 (the "Offer to Purchase"). The Tender Offer expired at 9:00 a.m., New York City time, on May 23, 2017 (the "Expiration Time").

The Company has accepted for purchase U.S.$13,136,370 principal amount of Notes, consisting of all the Notes validly tendered prior to the Expiration Time and accepted. Payment for the Notes is expected to be made on May 25, 2017.

The following table summarizes the final information for the Tender Offer:

View Table Fullscreen

Principal Amount

Total Consideration
per U.S.$1.00 Principal
Amount of Notes

Title of Security


Principal Amount
Accepted for Purchase

Step-Up Senior
Notes due 2020

CUSIP: 57773AAL6
ISIN: US57773AAL61




After giving effect to the purchase of the Notes, U.S.$112,362,507 principal amount of Notes remain outstanding.

Maxcom retained BCP Securities, LLC, who acted as Dealer Manager for the Tender Offer. Holders with questions about the Tender Offer can contact James Harper of BCP Securities at + 1 (203) 629-2181 or jharper@bcpsecurities.com.

The Offer to Purchase, as well as other relevant notices and documents, are available at the Offer Website: sites.dfkingltd.com/maxcom, which is operated by D.F. King Ltd., the Information Agent for the purpose of the Tender Offer. Access to the Offer Website is subject to the offer and distribution restrictions. The Information Agent's U.S. office can be reached at +1 (800) 967-5051 (toll-free) or +1 (212) 269-5550 (collect for bank and brokers); its London office can be reached at +44 20 7920 9700; and its Hong Kong office can be reached at +852 3953 7320. D.F. King will also act as the Tender Agent for the Tender Offer.

This release is neither an offer to purchase nor a solicitation of an offer to sell or buy securities in any transaction. The Tender Offer is being made pursuant to the Offer to Purchase, copies of which will be delivered to holders of the Notes, and which set forth the complete terms and conditions of the Tender Offer. Holders are urged to read the Offer to Purchase carefully before making any decision with respect to the Tender Offer. The Tender Offer is not being made to, nor will Maxcom accept tenders of the Notes from, holders in any jurisdiction in which the Tender Offer would not be in compliance with the securities or blue sky laws of such jurisdiction. None of Maxcom, the Dealer Manager, the tender agent, the information agent or the trustee, or any of their respective affiliates, makes any recommendation in connection with the Tender Offer.

Neither the Offer to Purchase nor any related documents have been filed with, approved or disapproved by the Comisión Nacional Bancaria y de Valores ("CNBV") of Mexico or the U.S. Securities and Exchange Commission (the "SEC") or any other securities commission or regulator, nor has the CNBV, the SEC or any other securities commission or regulator passed upon the fairness or merits of the Tender Offer or upon the accuracy or adequacy of the Offer to Purchase or any related documents. Any representation to the contrary is unlawful and may be a criminal offense.

About Maxcom

Maxcom Telecomunicaciones, S.A.B. de C.V., headquartered in Mexico City, Mexico is an integrated telecommunication services operator providing widespread voice and data services to residential and business customers in four metropolitan markets in Mexico and selected services in other markets.

Maxcom provides a wide range of services including local and long-distance voice, data, high speed, dedicated and dial-up Internet access, Voice over Internet Protocol telephony and paid TV. It also offers mobile voice service through resale and capacity leasing agreements with third parties.

In 2016, Maxcom's board resolved to change the Company's strategic direction, de-emphasizing the retail business and focusing on the enterprise business. Under this new strategy, the Company's management is continuously exploring alternatives to monetize or divest assets or businesses that are no longer in line with its strategic direction.

The trading of these securities by an investor will be made under such investor's own responsibility.

For more information contact:
Rodrigo Wright
Mexico City, Mexico
(52 55) 4770-1170

This release contains forward-looking statements. Statements that are not statements of historical facts, including statements about our beliefs and expectations are forward-looking statements. The words "believes," "expects," "intends," "will," "could," "may," "should" and similar words are intended to identify these statements. These statements reflect the current expectations of Maxcom's management and are subject to risks and uncertainties, which necessarily involve known and unknown risks and uncertainties. Accordingly, Maxcom's actual results of operations may be different from our current expectations and the reader should not place undue reliance on these forward-looking statements. These statements are based on management's assumptions and beliefs in light of the information currently available. These assumptions also involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Potential risks and uncertainties include, without limitation, the risks related to the acceptance of any tendered Notes, the expiration and settlement of the Tender Offer, the satisfaction of conditions to the Tender Offer, whether the Tender Offers will be consummated in accordance with the terms set forth in the Offer to Purchase or at all and the timing of any of the foregoing, as well as other risks and uncertainties. Forward-looking statements speak only as of the date they are made, and Maxcom does not undertake any obligation to update them in light of new information or future developments, except as may be required by law.

SOURCE Maxcom Telecomunicaciones

Original Source: https://www.newswire.com/news/maxcom-telecomunicaciones-announces-expiration-of-tender-offer-and-acceptance

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