America Movil to Consider Refinancing in Euros, CFO Says

(Bloomberg)-Finans Director Carlos Garcia Moreno is thinking of lending in euro to benefit from lower rates as part of Movil Sab’s financing efforts.

Garcia Moreno, in an interview with Bloomberg News, said, “We haven’t done anything in the euro market for a long time and it would make sense that potentially rates are low.” “Today we are exposed to the Euro today. In this respect, it may make sense to continue to be exposed to the currency.”

Investors, US President Donald Trump’s tariff policies, depending on the uncertainty caused by investors looking for an alternative to dollars increased this year. Developing market debtors ran to touch the Euro Bond market and benefited from the increasing demand of investors who want to get away from the US dollar.

Garcia Moreno said future Euro Bond sales will be part of the company’s re -financing strategy. According to data compiled by Bloomberg, America Movil owes the euro to be paid in 2026, 2027 and 2028. According to the company, its net debt was 472 billion PESO ($ 25.4 billion), including bonds in 2.8 billion euros at the end of June.

According to data compiled by Bloomberg, the Mexican Media Holding, which was controlled by billionaire Carlos Slim, has become a regular PESO exporter in recent years. Garcia Moreno said that Movil will continue to weigh more pesto exports by taking advantage of the latest growth in the local debt market.

Garcia Moreno said the borrowing in the local currency could be cheaper for the company. “We will continue to be open to other markets, but we will give some choice to the Mexican Peso market,” he said.

The company collected 15.8 billion PESO in the reopening of senior notes in 2029, 2031 and 2034 last month. Within the scope of the Global PESO program, a total of 15.5 billion Peso with a total of extraordinary notes under 70 billion Peso. He also sold $ 500 million in debt in June.

-Andrea help from Navarro.

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