America Movil plans $550 million loan

By Paul Harris and Reshmi Basu

New York, Mar. 5 - America Movil, SA de CV is expected to obtain a $550 million syndicated loan that will be divided into a three-year tranche and a five-year tranche, according to a market source.

Proceeds will be used to refinance debt and for general corporate purposes.

The syndicate is comprised of Banco Bilbao Vizcaya Argentaria, Caja Madrid, Dresdner Kleinwort Wasserstein, ING and Santander Bank.

The deal is expected to price in the upcoming weeks.

America Movil is a Mexico City-based wireless communications services company.

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