In anticipation of difficult conditions for US Treasuries last
year, América Móvil toned down its dollar funding
plans. The international telecom giant had raised $1.6 billion
in the dollar market in 2012, and $2 billion the year before.
But in 2013, the firm focused on its local market and European
ones, raising just $750 million in dollars.
CORPORATE ISSUER: América Móvil
LOCAL CURRENCY DEAL
América Móvil MXN15bn global peso bond
Pioneering a new type of local currency instrument and swaggering into European hybrid debt has set América Móvil apart as Latin America’s most sophisticated borrower
In late 2012, the borrower sold a 15 billion Mexican peso
($1.2 billion) 2022 bond, using a new structure that drew
domestic and foreign investors. The format, dubbed
Títulos de Crédito Extranjeros, offers a liquid
instrument that can be easily traded between international and
local accounts, without separate bonds or global depositary
The senior unsecured note is registered with the US
Securities and Exchange...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.