UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2003
GRUPO IUSACELL, S.A. de C.V.
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(Translation of registrant's name into English)
Prol. Paseo de la Reforma 1236
Col. Santa Fe, Deleg. Cuajimalpa
05438, Mexico D.F.
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will fill annual
reports under cover of Form 20-F or Form 40-F: Form 20-F |X| Form 40-F |_|
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g-3-2(b) under the Securities and Exchange Act
of 1934. Yes |X| No |_|
Documents Furnished By the Registrant
1. Press Release of the Registrant dated October 30, 2003
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GRUPO IUSACELL, S.A. DE C.V.
Date: October 27, 2003 /s/ Jose Ignacio Morales Elcoro
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Name: Jose Ignacio Morales Elcoro
Title: Attorney in fact
/s/ Jorge Narvaez Mazzini
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Name: Jorge Narvaez Mazzini
Title: Attorney in fact
[LOGO] IUSACELL
Velora tu espacio
INVESTOR CONTACTS
Jose Luis Riera K.
Chief Financial Officer
5255-5109-5927
Carlos J. Moctezuma
Head of Investor Relations
5255-5109-5759
carlos.moctezuma@iusacell.com.mx
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Iusacell Announcement
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Mexico City, October 30, 2003 - Grupo Iusacell, S.A. de C.V. [BMV: CEL, NYSE:
CEL] ("Iusacell" or the "Company") announced today that its subsidiary, Grupo
Iusacell Celular, S.A. de C.V. ("Iusacell Celular") is discussing a temporary
Amendment and Waiver of certain provisions and defaults under its US$266 million
Amended and Restated Credit Agreement, dated as of March 29, 2001 (the "Credit
Agreement") with its lenders.
During the first half of 2003, Iusacell Celular exceeded the permitted leverage
ratio of 2.50 under the Credit Agreement. On April 28, 2003 Iusacell Celular and
the lenders entered into a temporary amendment and waiver to the Credit
Agreement to increase the permitted leverage ratio from 2.50 to 2.70. After
various extensions, the amendment and waiver terminated, and the lenders are now
considering another amendment and waiver to the Credit Agreement.
If an additional amendment and waiver is not granted, an Event of Default (as
defined in the Credit Agreement) will occur as if no amendment and waiver had
ever been executed. Accordingly, the bank lenders under the Credit Agreement
would continue to have the right to declare the indebtedness under their loan
immediately due and payable.
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About Iusacell
Grupo Iusacell, S.A. de C.V. (Iusacell, NYSE: CEL; BMV: CEL) is a wireless
cellular and PCS service provider in seven of Mexico's nine regions, including
Mexico City, Guadalajara, Monterrey, Tijuana, Acapulco, Puebla, Leon and Merida.
The Company's service regions encompass a total of approximately 92 million
POPs, representing approximately 90% of the country's total population.
Grupo Iusacell, S.A. de C.V. press releases and all other written materials may
from time to time contain statements about expected future events and financial
results that are forward-looking and subject to risks and uncertainties. For
those statements, the Company claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities Litigation Reform
Act of 1995. Discussion of factors that may affect future results is contained
in our filings with the Securities and Exchange Commission.