Mexico’s largest fixed-line phone company, Telefonos de Mexico SAB has announced that it has sold $500 million in bonds.

In a filling with the Mexico Stock Exchange, the company stated that the 10-year bonds mature in 2019 and possess a coupon of 5.5%.

Telmex said that the proceeds of the bond issuance will be used for general corporate purpose. Further, the IFR said, the bond will pay investors 200 basis points over comparable US Treasury notes.

That yield is in line with the initial guidance provided by the managers of the deal -- Bank of America Merrill Lynch and HSBC.

Telmex holds around 85% of Mexico’s fixed phone lines.