By Christine Van Dusen
Atlanta, June 2 - Mexico's America Movil SAB de CV priced a two-tranche issue of Ps. 17.5 billion denominated notes due June 9, 2019 and December 9, 2024 (expected ratings: A2/A-/A), a syndicate source said.
The deal included Ps. 10 billion of 6% notes due 2019 that priced at 99.822 to yield 6.04%, or Bonos plus 125 basis points.
The Ps. 7.5 billion of 7 1/8% notes due 2024 priced at 99.728 to yield 7.16%, or Bonos plus 125 bps.
Talk was set in the 125 bps area for both tranches.
Deutsche Bank, HSBC and Morgan Stanley were the active bookrunners for the Securities and Exchange Commission-registered deal. BBVA, Citigroup and Credit Suisse were passive bookrunners.
Proceeds from the sale will be used for general corporate purposes, which may include the refinancing of outstanding indebtedness, according to a company filing.
America Movil is a Mexico City-based telecommunications company.
| Issuer: | America Movil SAB de CV
|
| Amount: | Ps. 17.5 billion
|
| Description: | Notes
|
| Bookrunners: | Deutsche Bank, HSBC, Morgan Stanley (active); BBVA, Citigroup, Credit Suisse
|
| Trade date: | June 2
|
| Settlement date: | June 9
|
| Expected ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A-
|
| Distribution: | Securities and Exchange Commission registered
|
|
|
| Five-year notes
|
| Amount: | Ps. 10 billion
|
| Maturity: | June 9, 2019
|
| Coupon: | 6%
|
| Price: | 99.822
|
| Yield: | 6.04%
|
| Spread: | 125 bps
|
| Price talk: | Bonos plus 125 bps area
|
|
|
| Ten-year notes
|
| Amount: | Ps. 7.5 billion
|
| Maturity: | Dec. 9, 2024
|
| Coupon: | 7 1/8%
|
| Price: | 99.728
|
| Yield: | 7.16%
|
| Spread: | 125 bps
|
| Price talk: | Bonos plus 125 bps area
|
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