AMX faces up to local currency test after tight euro deal

By Oliver West
29 May 2014

If América Móvil can’t, no one can. That is the message from Latin American DCM bankers and bond buyers as the Mexican telco prepares to bring back local currency issuance to the region with the first reopening of its innovative títulos de crédito extranjero programme in more than a year.

The peso deal is expected to be a rare challenge for A2/A-/A rated América Móvil, which is more used to seeing its new bond issues breezing through markets, as happened on Wednesday when it paid a concession of just 3bp-4bp to clinch a four year euro-denominated deal.

“The ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial