By Christine Van Dusen
Atlanta, Feb. 9 - Mexico's Empresas ICA SAB de CV priced a $100 million tap of its 8.9% notes due Feb. 4, 2021 at 99 to yield 9.054%, a market source said.
Bank of America Merrill Lynch was the bookrunner for the Rule 144A and Regulation S transaction.
The original $400 million deal priced Feb. 1 at 98.545 to yield 9 1/8%.
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: | $100 million add-on
|
| Maturity: | Feb. 4, 2021
|
| Description: | Notes
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Coupon: | 8.9%
|
| Price: | 99
|
| Yield: | 9.054%
|
| Call features: | Callable at par starting after the fifth year and on each subsequent coupon payment
|
| Trade date: | Feb. 9
|
| Distribution: | Rule 144A and Regulation S
|
| Total size: | $500 million, including $400 million priced Feb. 1, 2011 at 98.545 to yield 9 1/8%
|
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