Total Play raises $59M in debt via Mexican bond issuance
What's the deal? Total Play TelecommunicationsDealroom has a profile for this one. Try Dealroom →, a Mexican telecom firm, issued 1,000,000,000 pesos (about $59 million) in Certificados Bursátiles. The debt carries a 336-day term at a rate of TIIE plus 225 basis points. The company said the funds will support working capital and other corporate uses.
What's the endgame? Total Play offers internet, pay television, and telephony over one of Mexico's largest fiber optic networks. It positions itself as a leading Triple Play provider, built on what it calls the widest direct-to-home fiber network in the country.
Why now? The company framed the issuance as a vote of confidence from investors. It "reaffirms the financial community's confidence in Total Play's favorable business outlook, financial strength, and growing cash generation," Total Play said.
The firm is part of Grupo SalinasDealroom has a profile for this one. Try Dealroom →, the conglomerate created by Mexican entrepreneur Ricardo B. Salinas that spans media, financial services, and telecoms.
The signal: The raise is a modest one — landing in roughly the 7th percentile by size against comparable rounds. For Total Play, short-term bond issuances remain a routine tool to fund operations and sustain its capital-heavy fiber buildout in a competitive Mexican market.
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