America Movil (AMX) has mandated Banca IMI, BBVA and Societe Generale to manage a new public offering of four-year senior notes.
The Latin American telco did not disclose what the proceeds from the offering would be used for.
The issuance would mark…
America Movil (AMX) has mandated Banca IMI, BBVA and Societe Generale to manage a new public offering of four-year senior notes.
The Latin American telco did not disclose what the proceeds from the offering would be used for.
The issuance would mark the Carlos Slim-owned operator’s first trip to the debt market this year.
AMX declared net debt of US$33.6bn at the end of Q1 and a net debt to EBITDA ratio of 1.6x.
The Mexican heavyweight is in the process of taking over Telekom Austria. Should it complete that deal it plans to consolidate the Vienna-based incumbent, which will see AMX’s debt pile rise by US$5bn.
Telekom Austria’s capital structure is more stressed than AMX’s. It disclosed a net debt to EBITDA ratio of 2.9x in its last set of results.
