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Tycoon Salinas not letting SEC run-in cost him
TV Azteca unit selling Peru-backed bonds to fund optical-fibre network in country
Add BT as a preferred sourcePublished Sun, Mar 29, 2015 · 09:50 PM
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.
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