MEXICO CITY (Reuters) - A three-part sterling and euro hybrid bond that Mexico's America Movil (>> America Movil SAB de CV) announced on Monday is aimed at preserving the company's credit rating and not linked to any particular pending deals, Chief Financial Officer Carlos Garcia Moreno said.
The issue by billionaire Carlos Slim's telecoms giant, totaling 1.45 billion euros and 550 million pounds sterling, is part of a wider strategy to substitute short-term for longer-term debt, Garcia Moreno told Reuters in a telephone interview.
"(It is) optimization of our balance to bring us back to the leverage levels ratings agencies have fixed for our rating," he said.
"The intention is not to use (the money) for anything else," he added, when asked if the issue was aimed at raising funds for America Movil's proposed 7.2 billion euro buyout of Dutch telecom KPN (>> KPN KON) or another European transaction.
(Reporting by Simon Gardner; Editing by Peter Cooney)