Borrower profile: Maxcom starts new phase of growth

Mexican fixed-line operator Maxcom almost defaulted on its debt a few years ago. But in December the company successfully returned to the international capital markets, proving that the appetite for Latin American high-yield credits is as strong as ever. Chloe Hayward speaks to CFO José-Antonio Solbes about the company’s turnaround.

Maxcom factbox

CEO: René Sagastuy (March 2003)
CFO: José-Antonio Solbes (Oct 2003)
COO: Ricardo Arevalo Ruiz (May 2003)
Revenues (third quarter of 2006): Ps$458.2 million ($41.5 million)
Bond deal: $200 million unsecured bond
Lead manager: Morgan Stanley
Credit ratings: B/B3
Acquired Grupo Telereunion in July 2006

“Maxcom is emerging from its volatile past,” says Manuel Guerena, credit analyst at Standard and Poor’s. Nobody can accuse Guerena of hype – the Mexican fixed-line operator has endured some torrid times but now it seems the company is back on track.

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Borrower profile: Maxcom starts new phase of growth

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Borrower profile: Maxcom starts new phase of growth

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