América Móvil breaks records selling USD734 million bonds

13 Dec 2006

Mexican telecoms group América Móvil has set a new mark for Mexican corporate borrowers, issuing MXN8 billion (USD734 million) worth of bonds maturing in 30 years, writes the Financial Times. The issue marks the largest local currency placement of long maturity, amounting to about four times the outstanding face value of the government’s benchmark 30-year bond issue, according to the paper. América Móvil, controlled by Mexican billionaire Carlos Slim Helú, is Latin America’s largest mobile group, with more than 100 million subscribers and operations in 14 countries. Its market capitalisation is USD80 billion.

Mexico, America Movil (AM)