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The Firm recently represented Credit Suisse First Boston and Deutsche Bank Securities as underwriters in a public offering of 5.0 billion Mexican pesos principal amount of 9% Senior Notes due 2016 by América Móvil, S.A. de C.V., which is organized in Mexico.

América Móvil is the largest provider of wireless telecommunication services in Latin America, with 73.8 million wireless subscribers at June 30, 2005.  América Móvil's largest markets are Mexico and Brazil, and it operates in nine other countries.

The offering was innovative in that a Mexican peso-denominated debt security was offered in the United States and other countries outside Mexico.  Investors had the choice of purchasing the Notes with either pesos or U.S. dollars (based upon the peso/dollar exchange rate on the pricing date).  Payments of principal and interest on the Notes will be made in dollars determined by translating peso amounts into dollars based upon the exchange rate two business days before each payment date.  Alternatively, holders of Notes may elect to receive payments in pesos.  The deal structure allowed América Móvil, whose largest source of revenues consists of peso-denominated subscriber revenues, to incur indebtedness that minimizes its exposure to peso/dollar exchange rate movements.

The Simpson Thacher team for the transaction consisted of Glenn M. Reiter, Jaime Mercado, Juan Francisco Méndez, Juliana Obregón, Sergio Machado, Jonathan Cantor (Tax), Tom Gray (Tax) and Mark Lab (Blue Sky).