EDC Provides America Movil With USD 125 M in Financing to Help Spur More Canadian Telecom Supply

OTTAWA, ON--(Marketwired - November 25, 2014) - Export Development Canada (EDC) today announced it will provide up to USD 125 M in financing to América Móvil as part of a larger USD 2.5 B lending facility for the Mexico-based telecom.

América Móvil is one of the largest telecom companies in the world with 366 million subscribers throughout Central, South, North America, the Caribbean, and more recently, Europe.

EDC is Canada's leading provider of financing, insurance and bonding products for small Canadian companies having business outside of Canada.

The financing will be used for general corporate purposes. Opportunities for Canadian companies in Canada's greater telecom sector could be focused on network upgrades and expansions in the coming years.

"América Móvil is a very dynamic telecom company, and we believe that up to 30 Canadian companies in this sector are already well-positioned to capitalize on their evolving supply chain needs," said Carl Burlock, Senior Vice-President, Financing and Investments, EDC.

An important part of EDC's job is to help connect foreign buyers around the globe with Canadian companies that have the right offer and expertise to help those companies grow, reduce operating costs or make their supply chains more efficient. EDC looks to develop relationships with foreign companies that have existing Canadian supply and the potential to grow the same.

"If you think your company might fit well into América Móvil's supply chain, or you'd like to learn about other international opportunities like this one, please give us a call, we'd love to hear from you," added Burlock.

Mexico is a strategic market for Canada, as outlined in the Government's Global Market Action Plan, and is also a market of corporate priority for EDC. As such, EDC is looking to grow the amount of financing that it offers to Mexican companies, whether that financing is for general corporate purposes or project finance purposes.

For more information on how EDC can help your company, contact 1-888-434-8508 or visit EDC.ca.

EDC is Canada's trade finance agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. As a profitable Crown corporation that operates on commercial principles, EDC works together with private- and public-sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment.