America Movil taps euros

America Movil taps euros


America Movil raised €600m ($817m) through the sale of a four-year bond priced at 50bp over mid-swaps on Wednesday. That was at the tight end of 50bp to 55bp over spread guidance heard earlier in the day. Bookrunners BBVA, IMI and Societe Generale, priced the 1% bond at a 99.677 cash price, equal to a yield of 1.083%. “If you compare it to other major multinational companies it could be attractive in principle … but I don’t think that many EM investors chipped in, because at around 1% in 4-

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