America Movil Adjusts $2bn Loan

America Movil Adjusts $2bn Loan

Loans

Mexico's America Movil has adjusted terms on a $2bn 5-year bullet loan, which pays 25bp over Libor. The terms on the financing, which was taken out in April of last year, were changed so that it is now a revolving credit facility instead of a bullet loan. The final maturity is still 2011 and all 24 banks on the original deal have apparently agreed to the change. The alteration reflects the borrower's desire for more flexibility on taking out and repaying the funds, according to a banker on the d

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