América Móvil in Its Ps.10 Billion Reopening of Notes

Cleary Gottlieb represented longtime client América Móvil S.A.B. de C.V. (América Móvil) in the reopening of two series of its senior notes totaling Ps.10 billion (approximately $544 million), consisting of (i) a Ps.3,500,000,000 (approximately $190 million) reopening of its 10.125% Senior Notes due 2029 and (ii) a Ps.6,500,000,000 (approximately $354 million) reopening of its 10.3% Senior Notes due 2034.

The offering was conducted as a takedown of America Movil’s SEC-registered shelf registration statement and the notes were concurrently offered in Mexico and registered with the Mexican Comisión Nacional Bancaria y de Valores. The notes form part of the same series as, and are fungible with, the previously issued notes, originally offered in 2024 and subsequently offered in July 2025.

América Móvil intends to use the net proceeds of the offering for general corporate purposes, including the repayment of outstanding indebtedness. América Móvil also intends to use an amount equal to the net proceeds of the 2034 notes to finance or refinance, in whole or in part, expenditures and investments in new or existing “eligible projects” under América Móvil’s sustainable finance framework. The notes will be listed on the Luxembourg Stock Exchange and the Mexican Stock Exchange.

BofA Securities, Goldman Sachs & Co. LLC, Santander, and Scotiabank acted as joint bookrunners. The transaction priced on November 19, 2025, and closed on November 25, 2025.

América Móvil is Mexico’s largest publicly traded company and the leading telecommunications services provider in Latin America. Cleary has advised América Móvil since 2000 on a wide variety of matters, including a substantial number of acquisitions and securities offerings.

The Cleary corporate team included partners Duane McLaughlin and Manuel Silva and associates José Andrés de Saro, Nicole Mueller, and Cosmo Albrecht. Partner Matthew Brigham and associate Samuel Kramer provided tax advice, with assistance from law clerk Seth Stancroff.