Debt news: AMX debt spree
Borrowers have lunged at bond markets before and after a summer hiatus, eager to raise cash while it’s available. In need of acquisition funds, América Móvil has been particularly active
By Mariana Santibáñez
Numerous borrowers raced to the dollar bond market in the
first weeks of September, anticipating a potential wind-down of
quantitative easing by the US Federal Reserve and ending a
typically quiet August. DCM bankers hoped for a busy
second-half of September, although that would depend on whether
LatAm issuers view borrowing costs as still attractive as the
yield on the 10-year US Treasury approaches 3%. Investors have
been pulling money from bond funds, yet any stabilization in
Treasury yields could drive a rebound in appetite for issuance.
Mexican issuers reopened the bond market in July after a bout
of volatility, playing an active role in an otherwise quiet
period. América Móvil has been particularly
active, tapping European markets in July to raise $1.4
billion-equivalent with a sterling and euro-denominated
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