América Móvil B.V.’s $2.490 Billion Notes Offering

Cleary Gottlieb Steen & Hamilton, Bufete Robles Miaja and Clifford Chance advised America Movil.
Linklaters advised Citigroup Global Markets Europe AG, BofAmerica Securities Europe S.A. and Barclays Bank PLC acting as underwriters on the offering.

América Móvil, S.A.B. de C.V. wholly-owned Dutch subsidiary América Móvil B.V. has launched an offering of approximately EUR 2.2 billion principal amount of senior unsecured bonds exchangeable into ordinary shares of Koninklijke KPN N.V..

The Bonds will have a maturity of 3 years, they will not bear interest (zero-coupon) and will be issued at an issue price ranging between 105.75% and 107.75% of their principal amount, resulting in an annual yield-to-maturity of (1.85)% to (2.46)%. The exchange premium will be set at pricing and is expected to be between 15 per cent. and 20 per cent. above the reference price of Koninklijke KPN N.V. (“KPN”) ordinary shares. The reference price will be the volume weighted average price of the KPN ordinary shares on Euronext Amsterdam on 23 February 2021. 

Citigroup Global Markets Europe AG, BofAmerica Securities Europe S.A. and Barclays Bank PLC acted as underwriters on the offering.

Cleary Gottlieb Steen & Hamilton advised América Móvil S.A.B. de C.V. and América Móvil B.V. with Nicolás Grabar,  Duane McLaughlin, Jim Ho y Richard Sultman, Sarah Haddad.

In Mexico, Bufete Robles Miaja advised América Móvil S.A.B. de C.V. and América Móvil B.V. with Rafael Robles Miaja,  María Luisa Petricioli Castellón and Emilio Miñón.

Clifford Chance advised América Móvil S.A.B. de C.V. and América Móvil B.V. in The Netherlands,

Linklaters advised Citigroup Global Markets Europe AG, BofAmerica Securities Europe S.A. and Barclays Bank PLC with Richard O’Callaghan, Benjamin Dulieu, Andrew Chaplin and Ugo Ba.

Involved fees earner: Nicolás Grabar – Cleary Gottlieb Steen & Hamilton; Sarah Haddad – Cleary Gottlieb Steen & Hamilton; Jim Ho – Cleary Gottlieb Steen & Hamilton; Duane McLaughlin – Cleary Gottlieb Steen & Hamilton; Richard Sultman – Cleary Gottlieb Steen & Hamilton; Ugo Ba – Linklaters; Andrew Chaplin – Linklaters; Ben Dulieu – Linklaters; Richard O’Callaghan – Linklaters; Emilio Miñón Mastachi – Robles Miaja Abogados; María Luisa Petricioli Castellón – Robles Miaja Abogados; Rafael Robles Miaja – Robles Miaja Abogados;

Law Firms: Cleary Gottlieb Steen & Hamilton; Linklaters; Robles Miaja Abogados;

Clients: América Móvil; Bank of America Securities; Barclays Bank; Citigroup Global Markets Ltd;

Author: Martina Bellini