MEXICO CITY, Dec. 16 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de C.V. (BMV: TVAZTCA) (Latibex: XTZA), one of the two largest producers of Spanish-language television programming in the world, announced today that it expects to pay, in 2006, loans for an amount of approximately Ps.1,000 million with financial institutions and debt holders.
The source funds come from today's successful issuance of Structured Securities Certificates of Ps.1,000 million at TIIE + 173 basis points, with gradual maturities ending 2012. Fitch Mexico's rating for the certificate is AA (mex).
"The new sources of financing reduce our financial cost and have longer maturities compared with prior loans; additionally, they further strengthen the solid financial position of the company," said Carlo Hesles, CFO of TV Azteca.
Mr. Hesles added, "The enhanced financial terms represent a noteworthy vote of confidence from Mexican financial market participants on the strength of TV Azteca's operations and financial results going forward."
Company Profile
TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating two national television networks in Mexico, Azteca 13 and Azteca 7, through more than 300 owned and operated stations across the country. TV Azteca affiliates include Azteca America Network, a broadcast television network focused on the rapidly growing U.S. Hispanic market, and Todito.com, an Internet portal for North American Spanish speakers.
Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Risks that may affect TV Azteca are identified in filings with the U.S. Securities and Exchange Commission.
Investor Relations:
Bruno Rangel
+011-52-55-1720-9167
