Any bond investors still looking at this board. I really wish I would have looked into Mexican bankruptcy before buying these bonds. Its hard to imagine a deal in the US in which the equity holders would be getting paid out, but the bond holders would be stuck with an exchange of bonds. I sure hope this is just a negotiating tactic. How can the bondholders not get the $50+mm going to the equity holders? Anyone know anything about how these things work south of the border?
sandlowt - not sure what your reference is. i was thinking about buying a ton of these right now as there is a change of control indenture in these bonds. this was taken verbatim from the recent moody's report:
3) a successful exchange of the outstanding USD 200 million in global notes for new notes to be issued by Maxcom. The indenture on the existing notes specifies that a change of control at Maxcom gives bondholders the right to request acceleration of the payment of the notes.