A story in the Oct. 25 edition of the Prospect News Emerging Markets Daily incorrectly reported the size of America Movil SAB de CV's issuance of notes. The correct size of the tranche due 2019 is €1 billion. A corrected version of the story follows:
By Christine Van Dusen
Atlanta, Oct. 25 - Mexico's America Movil SAB de CV priced a two-tranche issue of notes (A2/A-/A), including €1 billion due Oct. 25, 2019 and £500 million due Oct. 27, 2026.
The deal included £500 million 5% notes due Oct. 27, 2026 that priced at 99.28 to yield 5.007%, or Gilts plus 217 basis points. The notes priced below talk, which was set at a spread between 220 bps and 225 bps.
Deutsche Bank and HSBC were the bookrunners for the sterling notes, which include a make-whole call at Gilts plus 55 bps.
The second tranche totaled €1 billion 4 1/8% notes due Oct. 25, 2019 that priced at 99.049 to yield 4.268%, or mid-swaps plus 180 bps. This tranche also priced below talk, which was set at mid-swaps plus 185 bps to 190 bps.
Credit Suisse and Deutsche Bank were the bookrunners for the euro notes, which include a make-whole call at Bunds plus 50 bps.
Proceeds from the Securities and Exchange Commission-registered deal will be used for general corporate purposes and capital expenditures.
America Movil is a Mexico City-based telecommunications company.
| Issuer: | America Movil SAB de CV
|
| Description: | Senior notes
|
| Trade date: | Oct. 24
|
| Settlement date: | Oct. 27
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
| Distribution: | Securities and Exchange Commission registered
|
|
|
| Notes due 2026
|
| Amount: | £500 million
|
| Maturity: | Oct. 27, 2026
|
| Bookrunners: | Deutsche Bank, HSBC
|
| Coupon: | 5%
|
| Price: | 99.28
|
| Yield: | 5.007%
|
| Spread: | Gilts plus 217 bps
|
| Call features: | Make-whole call at Gilts plus 55 bps
|
| Price talk: | Gilts plus 220 to 225 bps
|
|
|
| Notes due 2019
|
| Amount: | €1 billion
|
| Maturity: | Oct. 25, 2019
|
| Bookrunners: | Credit Suisse, Deutsche Bank
|
| Coupon: | 4 1/8%
|
| Price: | 99.049
|
| Yield: | 4.268%
|
| Spread: | Mid-swaps plus 180 bps
|
| Call features: | Make-whole call at Bunds plus 50 bps
|
| Price talk: | Mid-swaps plus 185 to 190 bps
|
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