Mexico's ICA launches $700 million 10-year notes at 9.2%

By Christine Van Dusen

Atlanta, May 21 - Mexico's Empresas ICA SAB de CV launched a $700 million issue of notes due in 10 years (B2/B/) at a yield of 9.2%, a market source said.

The notes were initially talked at a yield in the mid-9% area.

Barclays, Credit Suisse, Deutsche Bank and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.

The proceeds will be used to repay some debt and to fund a tender offer.

ICA is a Mexico City-based construction company.

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