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Total Play Telecommunications

Why buy this bond?

Revenues rose 32% to MXN 8.4 billion.

Attractive income with regular semi-annual income payment

The company reached a net profit of MXN 629 million.

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Totalplay Telecommunications

The company is a provider of internet, television and telephone lines through its own 100% optical network. It is one of the largest data networks in Mexico.

Complete information

Issuer
Total Play Telecomunicaciones, SA de CV
The name of the issue
Total Play Telecomunicaciones, 7.5% 12Nov2025
Currency
US dollar $
Emission volume
575,000,000 USD

The face value of the bond

$1000 

Indicative market price

900 USD

Discount

100 USD
Coupon from face value
7.50% p.a
Coupon payout frequency

Due date

semi-annual salary
11/12/2025

 100% liquidity

Yes
Minimum volume
$200,000

Yield to Maturity 

11.43% pa - before taking into account all costs

The nearest repayment option

11/12/2023 - $1037.5
Rating
BB- (Fitch)
Hierarchy of debt
Senior uninsured
You can find the prospectus for the bonds here:
7.500% Senior Notes due 2025 - Prospectus

Economy

Revenues rose 32% to MXN 8.4 billion.

Gross profit rose 38% to MXN 1.8 billion

EBITDA increased by 39% to MXN 1.05 billion.

The company reached a net profit of MXN 629 million.

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Reason for issuing the bond

The construction of optical networks is a capital-intensive activity that requires a lot of capital at the beginning, but then it generates regular anti-cyclical income without much effort. The company thus issued bonds in November to finance further expansion, as it has a very successful business model and so far has 18% market penetration with its services.

 

The optical data network has the advantage that if it is built somewhere, it is practically impossible to compete with it and thus guarantees regular income for a very long time.

Bond summary

The company is doing well economically, as evidenced by the latest results. Considering the nature of the company and its presence in a counter-cyclical sector, a yield of almost 10% is very attractive in our opinion. 

TOTAL

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