Telmex International Places MXP5bn Local Bond

Telmex International has raised MXP5bn in its first domestic bond offer, the top end of a MXP3bn-MXP5bn expected range. The unit spun off last year from Telmex priced the 3-year floating-rate bonds at TIIE plus 135bp. The issue was 1.5x subscribed, according to a banker managing the sale. Proceeds are to be used for general corporate purposes, which may include refinancing debt. BBVA and Inbursa managed the deal, rated AA on a national scale. The issue is the first sizeable corporate offering since the original Telmex sold MXP4bn in July.