America Movil (AMX) has priced €600m (US$817m) of 1% senior notes due 2018 at 99.67 of their principal amount, 50bps over mid-swaps.
The paper has a yield to maturity of 1.083% and AMX expected ratings of A2, A- and A from Moody’s, S&P and…
America Movil (AMX) has priced €600m (US$817m) of 1% senior notes due 2018 at 99.67 of their principal amount, 50bps over mid-swaps.
The paper has a yield to maturity of 1.083% and AMX expected ratings of A2, A- and A from Moody’s, S&P and Fitch.
Banca IMI, BBVA and Societe Generale are joint bookrunning managers on the public offering and BNP Paribas is acting as co-manager, according to a filing with the SEC.
The Mexican telco declared net debt of US$33.6bn at the end of Q1 and a net debt to EBITDA ratio of 1.6x.
The Carlos Slim-controlled giant has made an offer to take over Telekom Austria and will consolidate the Vienna-based incumbent if it is successful, which would see AMX’s debt pile rise by US$5bn.
Telekom Austria’s capital structure is more stressed than AMX’s. It disclosed a net debt to EBITDA ratio of 2.9x in its last set of results.
