MEXICO (AP) — The company run by Mexican TV, retail and banking magnate Ricardo Salinas Pliego said Tuesday it had failed to reach agreement with bondholders in the United States who are owed tens of millions of dollars in past-due payments.
Salinas Pliego's TV Azteca company issued a statement Tuesday saying it needed a restructuring of bonds that come due in 2024 because business was so bad.
According to the company statement, the bondholders wanted $105 million paid when a deal was reached, in exchange for a restructuring that would grant a six-year extension to 2030 on full repayment.
TV Azteca offered a $45 million initial payment and a mix of six- and eight-year extensions on the bonds’ due dates.
Salinas Pliego, who describes himself as "Bitcoin holder, businessman, Libertarian,” has developed a following on social media for his incendiary attacks on political and public figures.
Persons:
Ricardo Salinas Pliego, Salinas Pliego, Pliego, ”
Organizations:
Salinas, TV Azteca
Locations:
MEXICO, Mexican, United States, U.S, Salinas, New York City, Mexico