ICA Announces the Pricing of US$350 million of Senior Notes Due 2017
July 19 2012 - 8:37PM
Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), announced today
that it has priced US$ 350 million of new Senior Notes due 2017
(the "Notes"). The Notes have a coupon of 8.375% per year payable
semi-annually, with a yield to maturity of 8.625%.
The Notes are being issued pursuant to exemptions from
registration provided under Rule 144A and Regulation S under the
U.S. Securities Act of 1933, as amended (the "Securities Act").
The Notes will be issued by Empresas ICA, S.A.B. de C.V.
("ICA") and guaranteed on a senior unsecured basis by Constructoras
ICA, S.A. de C.V., Controladora de Operaciones de Infraestructura,
S.A. de C.V. and Controladora de Empresas de Vivienda, S.A. de
C.V., each a subsidiary of the Company.
The proceeds will be used to pay short term debt. This is
intended to improve the Company's debt maturity profile.
The Notes have not been and will not be registered under the
Securities Act or any state securities laws and were offered to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act or to non-U.S. persons in accordance with Regulation
S under the Securities Act. Unless so registered, the Notes may not
be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act
and applicable state securities laws.
This press release is for informative purposes only and is
neither an offer to sell nor a solicitation of an offer to buy any
of these securities.
Application has been made by ICA to list the Notes on the
Official List of the Luxembourg Stock Exchange, and to admit the
Notes for trading on the Euro MTF market, the alternative market of
the Luxembourg Stock Exchange.
THE NOTES HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE
NATIONAL SECURITIES REGISTRY (REGISTRO NACIONAL DE VALORES)
MAINTAINED BY THE MEXICAN NATIONAL BANKING AND SECURITIES
COMMISSION (COMISION NACIONAL BANCARIA Y DE VALORES, OR "CNBV"),
AND MAY NOT BE OFFERED OR SOLD PUBLICLY OR OTHERWISE BE THE SUBJECT
OF BROKERAGE ACTIVITIES IN MEXICO, EXCEPT PURSUANT TO THE PRIVATE
PLACEMENT EXEMPTION SET FORTH IN ARTICLE 8 OF THE LEY DEL MERCADO
DE VALORES, OR THE MEXICAN SECURITIES MARKET LAW. WE WILL NOTIFY
THE CNBV OF THE TERMS AND CONDITIONS OF THIS OFFERING FOR
INFORMATIONAL PURPOSES ONLY. DELIVERY OR RECEIPT OF SUCH NOTICE
DOES NOT CONSTITUTE OR IMPLY A CERTIFICATION AS TO THE INVESTMENT
QUALITY OF THE NOTES OR OF SOLVENCY, LIQUIDITY OR CREDIT QUALITY OF
ICA OR THE ACCURACY OR COMPLETENESS OF THE CORRESPONDING OFFERING
MEMORANDUM. THE OFFERING MEMORANDUM IS SOLELY THE RESPONSIBILITY OF
ICA AND HAS NOT BEEN REVIEWED OR AUTHORIZED BY THE CNBV.
Empresas ICA, S.A.B. de C.V. is Mexico's largest construction
and infrastructure operations company. Founded in 1947, ICA's
principal lines of business are civil and industrial construction
and engineering; infrastructure operations, including airports,
toll roads, and water systems; and homebuilding.
The Empresas ICA, S.A.B. de C.V. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10914
This press release may contain projections or other
forward-looking statements related to ICA that reflect ICA's
current expectations or beliefs concerning future events. Such
forward-looking statements are subject to various risks and
uncertainties and may differ materially from actual results or
events due to important factors such as changes in general
economic, business or political or other conditions in Mexico,
Latin America or elsewhere, changes in capital markets in general
that may affect policies or attitudes towards lending to Mexico or
Mexican companies, changes in tax and other laws affecting ICA's
businesses, increased costs, unanticipated increases in financing
and other costs or the inability to obtain additional debt or
equity financing on attractive terms and other factors set forth in
ICA's most recent filing on Form 20-F and in any filing or
submission ICA has made with the SEC subsequent to its most recent
filing on Form 20-F. All forward-looking statements are based on
information available to ICA on the date hereof, and ICA assumes no
obligation to update such statements.
CONTACT: Investor Relations:
Luz Montemayor
luz.montemayor@ica.com.mx
Iga Wolska
iga.wolska@ica.com.mx
relacion.inversionistas@ica.com.mx
(5255) 5272 9991 ext.3692
Victor Bravo, CFO
victor.bravo@ica.com.mx
In the United States:
Daniel Wilson Zemi Communications,
(1212) 689 9560
dbmwilson@zemi.com