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América Móvil sells $3.1bn in debt
18 June 2010
América Móvil has raised a further $3.1bn in debt, on top of $5.6bn it has already raised in 2010
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América Móvil
Mexico
Telmex Internacional
Telmex
Mexico-based Latin American operator América Móvil has raised $3.1 billion by issuing debt. The company has sold $1.24 billion euro-denominated seven-year notes at a yield of 135 basis points more than the benchmark swap rate.
It has also issued $929 million euro-denominated 12-year debt at a spread of 175 basis points. The $963 million pound-denominated 20-year bonds were priced to yield 165 basis points more than gilts.
The Mexico City-based carrier has already raised $5.6 billion in long-term debt this year, including $4 billion in a dollar-bond sale in March.
The company is spending $2.1 billion to acquire shares of phone and cable-television company Telmex Internacional to gain land-line phone networks in Brazil and elsewhere in Latin America. GTB