Mexico’s market-leader America Movil (AMX) has signalled its intention to offer more of its 6.45% unsecured notes maturing in 2022, denominated in Mexican pesos.
At the end of November the incumbent issued Ps15bn (US$1.16bn) notes, but it is yet to…
Mexico’s market-leader America Movil (AMX) has signalled its intention to offer more of its 6.45% unsecured notes maturing in 2022, denominated in Mexican pesos.
At the end of November the incumbent issued Ps15bn (US$1.16bn) notes, but it is yet to disclose how much more debt it will issue on this occasion. AMX also said it has the right to increase its aggregate principal amount of the issue by up to 15%.
BBVA, Citigroup, Credit Suisse, Deutsche Bank, HSBC and Morgan Stanley have been mandated as joint book-running managers; the same banks that ran the previous offering.
AMX said the proceeds will be used for general corporate purposes.
Like the November issue, the notes will be listed on the Mexican Stock Exchange and the Euro MTF Market of the Luxembourg bourse.
The initial offering was rated A2 by Moody’s, A- by S&P assigned and A by Fitch.
Last week AMX gained two seats on the board of KPN in return for supporting a €3bn rights issue by the Dutch operator. AMX has said that it will subscribe for the newly-issued ordinary shares pro rata to its current 27.7% shareholding.
