Empresas ICA pays off corporate debt, completes debt restructuring

By Caroline Salls

Pittsburgh, May 25 - Empresas ICA, SA de CV said it paid off all $44 million of its corporate debt and completed its debt restructuring begun in 1999.

Included in the payments was $41.7 million owed to Banamex on its long-term credit facility due 2006 and the $2 million outstanding of its $51.2 million credit facility from Caterpillar Financial related to the Corredor Sur project.

ICA last week sold $150 million of 6.95% notes due 2025 via a trust backed by Corredor Sur cash flows.

Empresas is a Mexican engineering, procurement and construction company.

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