Comcel De Colombia To Issue Debt

Comcel de Colombia, which is owned by Mexican telco América Móvil, is to propose to shareholders that it offers up to $400 million of new local currency-denominated debt. The proposal will be made at an extraordinary general meeting on May 16. Last year, Comcel issued peso-denominated debt worth around $200 million to protect against fluctuations in the US dollar against the Colombian currency.