New York, May 17 - Empresas ICA, SA de CV priced $150 million of 6.95% notes due 2025 via BG Trust Inc.
The bonds will be used to refinance the debt of the Corredor Sur tollroad project in Panama and are backed by the rights to collect tolls on the Corredor Sur along with revenue from auxiliary services, rights as beneficiary to insurance policies and contractual rights to receive compensation from the Government of Panama. They were issued through a Panamanian trust.
Proceeds not used to repay Corredor Sur debt will be used by Empresas ICA to repay debt and for other corporate purposes.
Corredor Sur is a 19.76 km four-lane divided highway that links Panama City's central business district with Tocumen International Airport.
| Issuer: | BG Trust Inc. (Empresas ICA, SA de CV)
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| Issue: | Notes
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| Amount: | $150 million
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| Maturity: | 2025
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| Coupon: | 6.95%
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| Ratings: | Moody's: Baa2
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| S&P: BBB-
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| Fitch: BBB
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| Pricing date: | May 17
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| Settlement: | May 25
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| Distribution: | Rule 144A/RegulationS
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