Bloomberg News

America Movil Sells $2 Billion of 10-, 30-Year Bonds Overseas

July 09, 2012

America Movil SAB (AMXL), the wireless carrier controlled by Mexican billionaire Carlos Slim, sold $2 billion of 10- and 30-year dollar bonds.

The company sold $1.25 billion of bonds due in 2022 to yield 168 basis points, or 1.68 percentage points, more than U.S. Treasuries, according to data compiled by Bloomberg. It also sold $750 million of 30-year bonds to yield 188 basis points above Treasuries. Morgan Stanley and Goldman Sachs Group Inc. arranged the offering.

Mexico City-based America Movil is seeking funds to finance its expansion in Europe. It acquired a 28 percent stake in Dutch operator Royal KPN NV and a 21 percent stake in Telekom Austria AG last month. America Movil sold 1 billion euros ($1.23 billion) of bonds due in 2021 on July 2. The yield on the securities has fallen four basis points since they were issued to 2.96 percent today.

To contact the reporter on this story: Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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