
At December 31, 2021				(Thousands of Mexican pesos)
Currency	Loan	Interest rate	Maturity	Total
Lines of Credit and others
U.S. dollars
	Lines of credit (ii)	0.350% - 0.700%	2022	Ps.	14,723,980
Euros
	Lines of credit (ii)	(0.400%) - (0.450%)	2022	Ps.	18,737,572
Mexican pesos
	Lines of credit (ii)	TIIE + 0.280% - TIIE + 0.400%	2022	Ps.	34,080,000
Peruvian soles
	Lines of credit (ii)	0.976% - 1.045%	2022	Ps.	9,815,068
Chilean pesos
	Lines of credit (ii)	TAB + 0.450%	2022	Ps.	7,419,372
	Financial Leases	8.700% - 8.970%	2022 - 2027	Ps.	47,743
Others	Lines of credit (ii)	15.790%	2022	Ps.	80,279

	Subtotal Lines of Credit and others			Ps.	84,904,014

	Total debt				Ps.564,030,102

	Less: Short-term debt and current portion of long-term debt				Ps.145,222,672

	Long-term debt				Ps.418,807,430


As of December 31, 2022				(Thousands of Mexican pesos)
Currency	Loan	Interest rate	Maturity	Total
Senior Notes
U.S. dollars
	Fixed-rate Senior notes (i)	3.625%	2029	Ps.	19,414,300
	Fixed-rate Senior notes (i)	2.875%	2030		19,414,300
	Fixed-rate Senior notes (i)	4.700%	2032		14,560,725
	Fixed-rate Senior notes (i)	6.375%	2035		19,051,835
	Fixed-rate Senior notes (i)	6.125%	2037		7,168,245
	Fixed-rate Senior notes (i)	6.125%	2040		38,741,430
	Fixed-rate Senior notes (i)	4.375%	2042		22,326,445
	Fixed-rate Senior notes (i)	4.375%	2049		24,267,875

	Subtotal U.S. dollars			Ps.	164,945,155

Mexican pesos
	Domestic Senior notes (i)	TIIE + 0.050%	2024	Ps.	1,920,231
	Fixed-rate Senior notes (i)	7.125%	2024		11,000,000
	Domestic Senior notes (i)	0.000%	2025		5,683,928
	Domestic Senior notes (i)	TIIE + 0.300%	2025		335,731
	Domestic Senior notes (i)	9.520%	2032		14,679,166
	Fixed-rate Senior notes (i)	8.460%	2036		7,871,700
	Domestic Senior notes (i)	8.360%	2037		4,964,352
	Domestic Senior notes (i)	4.840%	2037		7,099,289

	Subtotal Mexican pesos			Ps.	53,554,397

Euros
	Commercial Paper (iv)	2.020%	2023	Ps.	519,575
	Commercial Paper (iv)	2.010%	2023		1,039,150
	Commercial Paper (iv)	2.270%	2023		519,575
	Commercial Paper (iv)	2.150%	2023		519,575
	Fixed-rate Senior notes (i)	3.500%	2023		6,234,902
	Fixed-rate Senior notes (i)	3.259%	2023		15,587,256
	Exchangeable Bond (i)	0.000%	2024		43,581,968
	Fixed-rate Senior notes (i)	1.500%	2024		17,665,557
	Fixed-rate Senior notes (i)	1.500%	2026		15,587,256
	Fixed-rate Senior notes (i)	0.750%	2027		15,708,525
	Fixed-rate Senior notes (i)	2.125%	2028		12,395,194

	Subtotal euros			Ps.	129,358,533


As of December 31, 2022						(Thousands of Mexican pesos)
Currency	Loan	Interest rate		Maturity		Total
Pound Sterling
	Fixed-rate Senior notes (i)		5.000%		2026	Ps.	11,729,149
	Fixed-rate Senior notes (i)		5.750%		2030		15,247,894
	Fixed-rate Senior notes (i)		4.948%		2033		7,037,490
	Fixed-rate Senior notes (i)		4.375%		2041		17,593,724

	Subtotal Pound Sterling					Ps.	51,608,257

Brazilian reais
	Debentures (i)		CDI + 1.350 %		2023	Ps.	9,302,135
	Promissory Notes (i)		CDI + 1.000%		2023		2,976,683
	Debentures (i)		CDI + 1.400%		2024		15,813,630
	Debentures (i)		CDI + 1.370%		2025		5,581,281

	Subtotal Brazilian reais					Ps.	33,673,729


Other currencies
Japanese yen
	Fixed-rate Senior notes (i)		2.950%		2039	Ps.	1,924,847

	Subtotal Japanese yen					Ps.	1,924,847

Chilean pesos
	Fixed-rate Senior notes (i)		4.000%		2035	Ps.	3,964,099

	Subtotal Chilean pesos					Ps.	3,964,099

	Subtotal other currencies					Ps.	5,888,946


Lines of Credit and others
U.S. dollars
	Lines of credit (ii)		5.050%		2023	Ps.	491,750
Euros
	Lines of credit (ii)		2.083% - 2.650%		2023 - 2024		17,052,458
Mexican pesos
	Lines of credit (ii)		TIIE + 0.280% - TIIE + 0.580%		2023		43,580,000
Peruvian Soles
	Lines of credit (ii)		6.00%		2023		4,142,056
Colombian pesos
	Lines of credit (ii)		IBR + 2.25%		2023		165,479
Brazilian reais
	Lines of credit (ii)		13.32%		2023		6,105,177
Others
	Lines of credit (ii)		11.00%		2023		23,543

	Subtotal Lines of Credit and others					Ps.	71,560,463

	Total debt					Ps.	510,589,480

	Less: Short-term debt and current portion of long-term debt					Ps.	102,024,414

	Long-term debt					Ps.	408,565,066

L = LIBOR (London Interbank Offered Rate)

TIIE = Mexican Interbank Rate

CDI = Brazil Interbank Deposit Rate

TAB = Chilean weighted average funding rate

IBR = Colombia Reference Bank Indicator

Interest rates on the Company’s debt are subject to fluctuations in international and local rates. The Company’s weighted average cost of borrowed funds as of December 31, 2021, and December 31, 2022 was approximately 3.78% and 5.38%, respectively.

Such rates do not include commissions or the reimbursements for Mexican tax withholdings (typically a tax rate of 4.9%) that the Company must pay to international lenders.

An analysis of the Company’s short-term debt maturities as of

December 31

, 2021, and December 31, 2022, is as follows:


	2021			2022
Obligations and Senior Notes	Ps.	60,353,052		Ps.	36,698,853
Lines of credit		84,856,270			65,325,561
Financial Leases		13,350			0.00

Subtotal short term debt	Ps.	145,222,672		Ps.	102,024,414

Weighted average interest rate		4.02	%		8.50	%

The Company’s long-term debt maturities are as follows:


Years	Amount
2024	Ps.	96,216,288
2025		11,600,939
2026		27,316,405
2027 and thereafter		273,431,434

Total	Ps.	408,565,066

(i) Senior Notes

The outstanding Senior Notes as of December 31, 2021, and December 31, 2022, are as follows:


Currency*	2021		2022
U.S. dollars		Ps.159,533,549		Ps. 164,945,155
Mexican pesos		51,656,585		53,554,397
Euros		167,396,781		129,358,533
Pound sterling		61,268,846		51,608,257
Brazilian reais		20,286,578		33,673,729
Japanese yens		2,325,617		1,924,847
Chilean pesos		3,776,051		3,964,099

*	Thousands of Mexican pesos

*	Includes secured and unsecured senior notes.

On November 28, 2022, under the current Domestic Senior Notes program with a notional value up to Ps. 50,000 million, the Company issued Notes for Ps. 24,002 million in four tranches, AMX 22, AMX 22-2, AMX 22X (sustainability linked) and AMX 22UX (sustainability linked).

(ii) Lines of credit

As of December 31, 2021, and December 31, 2022, debt under lines of credit amounted in the aggregate to Ps. 84,856 million and Ps. 71,560 million, respectively. Telekom Austria closed December 2022 with an aggregate debt of Ps. 17,076 million under lines of credit.

The Company has two revolving syndicated credit facilities, one for the Euro equivalent of U.S. $1,500 million and the other for U.S. $2,500 million maturing in 2026 and 2024, respectively. As long as the facilities are committed, a commitment fee is paid. As of December 31, 2022, these credit facilities are undrawn. Telekom Austria has an undrawn revolving syndicated credit facility in Euros for €1,000 million that matures in 2026.

(iii) Hybrid Notes

The Company completed a tender offer to purchase for cash any or all outstanding securities of its €550 million hybrid notes due 2073 (callable in May 2023). At the settlement date, the Company repurchased 88.6% of such securities, and the remaining principal amount was redeemed at par.

(iv) Commercial Paper

In August 2020, the Company established a new Euro-Commercial Paper program for a total amount of €2,000 million. As of December 31, 2022, debt under this program amounted to Ps. 2,598 million.

Restrictions

A portion of the Company’s debt is subject to certain covenants with respect to maintaining certain financial measures, as well as restrictions on selling a significant portion of groups of assets, among others. As of December 31, 2022, the Company was in compliance with all of these covenants.

A portion of the Company’s debt is also subject to mandatory or optional redemption at the option of the holders in the event of a change in control of the Company, as defined in each relevant instrument. The definition of change in control varies from instrument to instrument; however, no change in control shall be considered to have occurred as long as its current shareholders continue to hold the majority of the Company’s voting shares.

Covenants

In accordance with the credit agreements, the Company is obligated to comply with certain financial and operating covenants. Such covenants limit in certain cases, the ability of the Company or the guarantor to: pledge assets, carry out certain types of mergers, sell all or substantially all of its assets, and sell control of Telcel.

Such covenants do not restrict the ability of AMX’s subsidiaries to pay dividends or other payment distributions to AMX. The more restrictive financial covenants require the Company to maintain a consolidated ratio of debt to EBITDA (defined as operating income plus depreciation and amortization) that does not exceed 4 to 1, and a consolidated ratio of EBITDA to interest paid that is not below 2.5 to 1 (in accordance with the clauses included in the credit agreements).

Several of the financing instruments of the Company may be accelerated, at the option of the debt holder in the case that a change in control occurs.

As of December 31, 2022, the Company was in compliance with all of such covenants.