Mexico's Empresas ICA tenders for $150 million 8 3/8% notes due 2017

By Susanna Moon

Chicago, May 15 - Mexico's Empresas ICA SAB de CV said it began a tender offer for up to $150 million principal amount of its outstanding 8 3/8% senior notes due 2017.

The total purchase price will be $1,067.50 for each $1,000 principal amount of notes tendered by 5 p.m. ET on May 28.

The total amount includes an early tender payment of $30.00 per $1,000 principal amount.

Those who tender after the early deadline will receive $1,037.50 per $1,000 of notes.

Holders also will receive accrued interest.

The tender offer will end at midnight ET on June 11, with early settlement set for June 2.

The offer is conditioned on the company selling at least $500 million of senior notes in a concurrent offering, according to a company press release.

Credit Suisse Securities (USA) LLC (800 820-1653 or 212 538-2147 collect) and Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527 collect) are the dealer managers. D.F. King & Co., Inc. (800 549-6650 or banks and brokers collect at 212 269-5550) is the tender agent and information agent.

Empresas ICA is a Mexico City-based construction company.

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