The Firm represented underwriters, led by BofA Merrill Lynch and J.P. Morgan, in connection with a public offering by América Móvil, S.A.B. de C.V. of U.S.$2.75 billion principal amount of debt securities. The debt securities consisted of U.S.$2 billion of 2.375% Senior Notes due 2016 and U.S.$750 million of 6.125% Senior Notes due 2030. The latter series of debt securities represented a “reopening” of U.S.$1.25 billion of 6.125% Senior Notes due 2040 initially issued and sold in March 2010.
According to news reports, the debt offering constituted the largest debt offering by a Mexican corporate issuer – and one of the largest debt offerings by a Latin American issuer – to date in 2011.
América Móvil, which is organized in Mexico, is the largest provider of wireless communications services in Latin America, based upon its 235 million subscribers in 18 countries at June 30, 2011. Mexico, Brazil and Colombia are América Móvil’s single largest wireless markets. América Móvil also has major fixed-line operations in Mexico, Brazil and 12 other countries in Latin America.
The Simpson Thacher team for the transaction included, among others, Glenn M. Reiter, Kirsten L. Davis, Brian Rosenzweig, Alexander Coedo and Alberto Büll da Silva (Capital Markets), Jonathan Cantor and Danny Salinas (Tax), and Jennie Getsin (FINRA/Blue Sky).