America Movil Looking at Loan Proposals

America Movil has received the majority of the proposals for the $4bn syndicated loan or equivalent it is seeking and will start comparing them this week, Victor Mendez, corporate treasurer, tells LatinFinance. The deal will be a revolver with either a 3-year or 5-year tenor, either in USD or a combination of USD and EUR. Market participants say America Movil will wait to see how Vale’s syndicated loan is received before determining the price, as it is seen as a benchmark transaction. “It is an indicator to see what market conditions are like and what banks’ appetite is like, but it will not be a determinant in the pricing of our deal,” says Mendez. The loan is a back-up facility for future opportunities. The leads will be chosen in March, when the syndication process will take place, and the transaction is expected to be signed by April, says the corporate treasurer.