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America Movil announces foreign debt offering of up to 20 billion pesos

Reuters
·1-min read
FILE PHOTO: Mexican billionaire Carlos Slim attends the Fundacion Telmex Mexico Siglo XXI (Telmex Foundation Mexico XXI Century) in Mexico City

MEXICO CITY (Reuters) - Mexican telecommunications giant America Movil, controlled by the family of tycoon Carlos Slim, announced the launch of a foreign debt public offering of up to 20 billion pesos ($1.17 billion), the company said in a statement on Monday.

The issuance will take place on July 6, part of a five-year overall 130 billion peso debt program, according to the company.

Fitch Ratings assigned an international scale rating of A- and a national scale rating of AAA(mex) to America Movil's senior unsecured notes due 2031, the agency said in a separate statement.

Fitch expects proceeds from the offering will be used to refinance short-term debt as well as other corporate purposes, including environmental and social projects.

($1 = 17.1339 Mexican pesos)

(Reporting by Ana Isabel Martinez; Writing by Valentine Hilaire; Editing by David Alire Garcia)