América Móvil sacrifices size for aggressive pricing

America Movil man with phone
By Jon Hay
16 Jul 2013

In a favourable market, Mexican telecoms company América Móvil had to reduce the size of a planned bond issue on Monday after receiving only £400m of demand for a sterling tranche it had announced at £500m. The euro tranche was priced at the target size of €750m.

Having announced the sizes boldly as a €750m no-grow 10 year and a £500m no-grow 20 year, the A2/A-/A- rated company reduced the sterling tranche to £300m.

It was priced in line with the initial price thoughts at 170bp over Gilts, while the euro tranche came at 135bp over ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.