Latin American telecoms giant America Movil is set to name the banks arranging its US$4bn refinancing after it meets with them on Friday, according to reports.
An IFR article published by Reuters Mexico yesterday claimed that Bank of Tokyo Mitsubishi,…
Latin American telecoms giant America Movil is set to name the banks arranging its US$4bn refinancing after it meets with them on Friday, according to reports.
An IFR article published by Reuters Mexico yesterday claimed that Bank of Tokyo Mitsubishi, BBVA, Citigroup, Intesa, JP Morgan and Mizuho were some of the banks that had obtained leading roles in the deal.
The refinancing will reportedly be divided into two tranches, with five banks acting as bookrunners in each.
One of these tranches will be worth US$2bn due in three to five years, while the other will be the equivalent of US$2bn in euros, which will be due in five years.
Citigroup has reportedly got a top role in both tranches.
Separately, America Movil has announced a proposal for a 2-for-1 forward stock split on all its stock, to be voted on by shareholders at the company’s AGM in April.
In a statement on Tuesday, America Movil also announced a cash dividend of Ps0.36 (US$0.03) per share for some groups of shares that will be payable in two instalments. This amount may be adjusted depending on demand.
It also said that it would be increasing its amount for buying back shares by Ps50bn (US$4.13bn).
America Movil did not reply to further questions before the press deadline.
