Oct. 8 (Bloomberg) -- America Movil SAB, Latin America’s largest mobile-phone company, sold $750 million of bonds after benchmark yields fell to a 13-month low.

The company sold the 10-year bonds to yield 1.85 percentage points above similar-maturity U.S. Treasuries, according to Bloomberg data.

The Mexico City-based company controlled by billionaire Carlos Slim joined other Latin American companies that have sold debt in overseas credit markets as a global economic recovery fuels demand for higher-yielding assets. The extra yield investors demand to own emerging-markets corporate bonds instead of Treasuries narrowed to 4.01 percentage points yesterday, the smallest gap since September 2008, according to JPMorgan Chase & Co.’s CEMBI Index.

America Movil is “taking advantage of low yields before that window closes up,” Eric Wilson, an analyst with Actinver SA, said in a phone interview from Mexico City.

The yield on America Movil’s 5.625 percent bonds due in 2017 has tumbled to 4.98 percent from 7.41 percent on Dec. 31, according to Bloomberg data. The bond’s price jumped to 104.28 cents on the dollar from 88.56 cents during that period.

Odebrecht SA, a Brazilian construction and engineering company, and Banco do Brasil SA, Latin America’s largest lender, also plan to sell debt abroad, according to people familiar with the offerings.

Morgan Stanley and Goldman Sachs Group Inc. arranged America Movil’s bond sale, said a person familiar with the offering. Guillermo Ferrer, a spokesman at America Movil, didn’t immediately return telephone calls seeking comment.

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

Last Updated: October 8, 2009 17:38 EDT