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America Movil wraps up bond issues for year, no acquisition plans: CFO

Published 03/09/2016, 10:05 PM
Updated 03/09/2016, 10:10 PM
© Reuters. America Movil's CFO Carlos Garcia Moreno speaks during an interview with Reuters at his office in Mexico City

MEXICO CITY (Reuters) - Mexico's America Movil does not plan to issue any more bonds for more than a year after selling 1.5 billion euros in debt this week, Chief Financial Officer Carlos Garcia Moreno said on Wednesday, adding there were no acquisitions on the horizon.

"We achieved what we wanted and we don't have to go back to the market in 15 months," Garcia Moreno said in a phone interview.

© Reuters. America Movil's CFO Carlos Garcia Moreno speaks during an interview with Reuters at his office in Mexico City

He added that all the money raised this week would go to refinancing part of its debt that matures this year. He said that the company hopes to cut its debt by at least $3 billion this year.

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