Claro Chile Secures $400 Million Syndicated Loan

Mexican mobile phone operator América Móvil has secured a syndicated loan worth $400 million via its Chilean subsidiary Claro Chile, the company reported. According to the Mexican parent, this is the largest corporate financing so far in the Chilean market. The five-year loan, through Santander, will be used to fund expansion of the operator’s coverage as well as modernizing its technology platform.