Mexico-based telecoms group America Movil is proposing a bond offering of 30bn Japanese Yen (US$390m), according to a report by Moody’s.
Moody’s said that the proposed offering would involve senior unsecured notes made up of two series. The first…
Mexico-based telecoms group America Movil is proposing a bond offering of 30bn Japanese Yen (US$390m), according to a report by Moody’s.
Moody’s said that the proposed offering would involve senior unsecured notes made up of two series. The first series will mature in 2014 and the second will mature in 2016.
The overall amount, including both series, will be Y30bn. Both series were assigned A2 ratings by Moody’s.
The rating agency added that the notes would be issued without the guarantee of America Movil’s Mexican mobile subsidiary, Radio Movil Dipsa (Telcel), which has provided a guarantee to the company’s existing unsecured notes.
Moody’s also said that the proceeds from both series would be used for general corporate purposes.
According to an IFR report published by Reuters, underwriters for the offering are Mizuho and Mitsubishi UFJ. The offering is forecast to take place on Friday.
