América Móvil plays on popularity with Swiss
América Móvil tapped five year Swiss franc debt on Tuesday, capitalising on Swiss investors’ strong interest in Latin American credits. While not a frequent issuer in the currency, the company has three bonds outstanding, meaning Swiss investors were comfortable with the name.
Credit Suisse priced the Sfr300m (241m) tap of América Móvils 1.125% September 2018 paper at 47bp over mid-swaps, at the tight end of guidance of the 48bp area. The tap brings the total size of the outstanding to Sfr550m."We had strong indications of interest from investors and the ...
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