By Christine Van Dusen
Atlanta, Feb. 1 - Mexico's Empresas ICA SAB de CV priced $400 million 8.9% notes due Feb. 4, 2021 (Ba3/BB-/) at 98.545 to yield 9 1/8%, a market source said.
Bank of America Merrill Lynch, Morgan Stanley and Santander were the bookrunners for the Rule 144A and Regulation S notes, which are non-callable for five years.
The deal priced in line with talk, which was set at the 9 1/8% area.
Proceeds will be used to repay outstanding secured debt and for general corporate purposes, including equity contributions and for new and existing projects.
Empresas ICA is a construction company based in Mexico City.
| Issuer: | Empresas ICA SAB de CV
|
| Amount: | $400 million
|
| Maturity: | Feb. 4, 2021
|
| Description: | Notes
|
| Bookrunners: | Bank of America Merrill Lynch, Morgan Stanley, Santander
|
| Coupon: | 8.9%
|
| Price: | 98.545
|
| Yield: | 9 1/8%
|
| Call features: | Non-callable for five years
|
| Trade date: | Feb. 1
|
| Settlement date: | Feb. 4
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 9 1/8% area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
