0
General

America Movil issues bonds to preserve credit ratings

Wednesday 4 September 2013 | 18:11 CET | News
America Movil has raised over EUR 2 billion in a hybrid bond issue. The issue includes EUR 1.45 billion and GBP 550 million tranches. This is part of a broader strategy to replace short-term securities with long-term debt and maintain a good credit profile, CFO Carlos Garcia Moreno said in an interview with Reuters. "By optimising our balance sheet, we will get back to the levels of leverage the risk agencies set for our rating," he said, adding that the money will not be used for anything else. The leverage ratios were exceeded at the end of June, he said. America Movil's ratings have been

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: General
Companies: America Movil
Countries: Latin America / Netherlands
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

America Movil grows net profit 15.7% in Q4

Published 12 Feb 2014 08:44 CET | Latin America
America Movil reported fourth-quarter net profit of MXN 17.2 billion, up 15.7 percent from a year earlier. The result included a ...

America Movil growth slows on weak Mexican market

Published 25 Oct 2013 08:05 CET | Latin America
America Movil reported a slowdown in third-quarter results, hurt by the weak economy in its home market Mexico. Revenues rose ...

America Movil abandons KPN takeover bid

Published 16 Oct 2013 23:27 CET | Netherlands
America Movil has abandoned its proposed takeover bid for KPN, after it was unable to reach an agreement with the Dutch company. ...

'Marktaandeel America Movil beneden 50 procent'

Published 14 Oct 2013 09:19 CET | Mexico
Het marktaandeel van America Móvil zal in Mexico de komende jaren flink dalen. Volgens de Mexicaanse senator Javier Lozano zal ...

Telefonica issues, pays up EUR 1 bln, EUR 625 mln securities

Published 19 Sep 2013 07:45 CET | World
Telefonica Europe has issued and paid up the two issues of rate guaranteed securities announced on 11 September. The 5 Year ...