Carlos Slim owned Latin American mobile operator America Movil raised US$4bn on March 23, in one of the largest bond issues ever in the emerging markets.
Arrangers for the deal were JP Morgan, Citigroup and Goldman Sachs. Proceeds from the debt sale will…
Carlos Slim owned Latin American mobile operator America Movil raised US$4bn on March 23, in one of the largest bond issues ever in the emerging markets.
Arrangers for the deal were JP Morgan, Citigroup and Goldman Sachs. Proceeds from the debt sale will go towards general corporate purposes.
The banks are said to have received over US$9bn in offers for the bond, and due to the high demand, America Movil could pay risk premiums higher than safe-haven investments. The telco also added a five-year note, on top of the 10 and 30 year security notes, due to the high demand. Yesterday’s bond sale saw America Movil sell US$750m in five year notes, yielding 3.672%, US$2bn in 10 year securities, yielding 5.083%, and US$1.25bn in 30 year securities, yielding 6.222%.
The Mexican based operator has recently raised funds through a US$1.2bn Mexican bond sale and close to US$210m in a Swiss franc denominated offering, and before that in October 2009, it raises US$750m in 10-year securities.