Mexican operator Maxcom filed for US bankruptcy protection to enable it to restructure its debt. The company and its Maxcom USA affiliate filed for protection from creditors under Chapter 11 of the US Bankruptcy Code in White Plains, New York, Reuters reports.
The company is hoping to swap its senior notes due in 2020 for new debt and cash. Holders of two-thirds of the notes have agreed to the swap, and general unsecured and equity claims would be unimpaired, Maxcom said.
The filing covers an estimated USD 100 million to USD 500 million in assets and liabilities. The company underwent a similar restructuring process in 2013.―Telecompaper