Billionaire Carlos Slim’s America Movil SAB plans to issue more of a 10-year peso bond it sold overseas last year after borrowing costs tumbled.
The company plans to sell 15 billion pesos ($1.18 billion) of the bonds as part of a program under which America Movil is seeking to raise 100 billion pesos through 2017. In the first sale under the program on Nov. 28, the largest mobile phone operator in the Americas by subscribers sold 15 billion pesos of the bonds due 2022 to yield 6.45 percent.
Yields on those bonds have tumbled 68 basis points, or 0.68 percentage point, since they were sold to 5.77 percent, according to prices compiled by Bloomberg.
November’s sale was the biggest-ever international offering in local currency from a Mexican company.
Underwriters of the new sale include units of Deutsche Securities Inc., HSBC Holdings Plc, Morgan Stanley, Banco Bilbao Vizcaya Argentaria SA, Credit Suisse Group AG, and Citigroup Inc., according to a filing with the Mexican stock exchange.
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