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