America Movil raises 1.5bn as LatAm tone improves

lunes 7 de marzo de 2016 15:44 GYT

By Will Caiger-Smith

NEW YORK, March 7 (IFR) - America Movil tapped the euro market for 1.5bn (US$1.65bn) of senior unsecured funding on Monday, benefitting from strengthening investor sentiment about Latin America credits.

Investors placed around 2.7bn of orders for the Mexican telecoms company's two-tranche deal, allowing it to tighten pricing on both by 10bp from initial pricing thoughts.

"They're a frequent euro issuer but they haven't issued in a while," one banker close to the deal told IFR. "The coupon was attractive too."

America Movil (A2/A-/A) priced a 850m eight-year at 120bp over mid-swaps, while its 650m 12-year tranche priced at mid-swaps plus 150bp.

Citi, HSBC and Societe Generale were joint bookrunners.


Bankers are upbeat about the prospects for this week, with the rally in oil driving improved sentiment about towards the region.   Continuación...