Tycoon Salinas not letting SEC run-in cost him
TV Azteca unit selling Peru-backed bonds to fund optical-fibre network in country
New Mexico
AS Mexican billionaire Ricardo Salinas expands his TV empire, he's making sure his past battles with US regulators don't cost him.
Red Dorsal Finance, a subsidiary of a consortium primarily owned by Mr Salinas' TV Azteca SAB, is selling US$275 million of 16-year bonds to finance an optical-fibre network in Peru. Because the notes are guaranteed by the Andean nation, the debt is rated BBB - an investment grade that's four levels higher than Mexico City-based TV Azteca's junk ranking.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too
Billionaire Geiger is said to near US$7 billion L’Occitane buyout
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries