Mexican telecoms group America Movil (AMX) has priced US$750m of floating-rate senior notes at par.
The interest on the three-year paper will be set at the average Libor rate for the last three months plus 100 basis points. The Libor rate will be reset…
Mexican telecoms group America Movil (AMX) has priced US$750m of floating-rate senior notes at par.
The interest on the three-year paper will be set at the average Libor rate for the last three months plus 100 basis points. The Libor rate will be reset quarterly throughout the lifetime of the notes until they mature in September 2016.
Citigroup, Banca IMI and BBVA were joint bookrunners while Mitsubishi UFJ and Mizuho were co-managers.
AMX expects the notes, which will be listed on the NYSE, to be rated A2 by Moody’s, A- by S&P, and A by Fitch.
The FRN issue follows the pricing of a US$2.76bn dual-currency hybrid bond earlier this week. The 60-year offering marked AMX’s first hybrid issue as the Mexican telco looks to push out its maturities in a bid to maintain its credit rating.
Last week AMX confirmed its commitment to its €7.2bn offer to take over Dutch telco KPN.
