By Christine Van Dusen
Atlanta, July 19 - Mexico's Empresas ICA SAB de CV priced a $350 million issue of 8 5/8% notes due July 24, 2017 (B1) at par to yield 8 5/8%, a market source said.
The notes were talked in the 9% area.
Bank of America Merrill Lynch, Deutsche Bank and Goldman Sachs were the bookrunners for the Rule 144A/Regulation S notes, which are non-callable for 2½ years.
ICA is a Mexico City-based construction company.
Issuer: | Empresas ICA SAB de CV
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Amount: | $350 million
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Maturity: | July 24, 2017
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Description: | Senior notes
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Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs
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Coupon: | 8 5/8%
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Price: | Par
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Yield: | 8 5/8%
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Call features: | Non-callable for 2½ years
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Trade date: | July 19
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Settlement date: | July 24
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Expected ratings: | Moody's: B1
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Distribution: | Rule 144A/Regulation S
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Price talk: | 9% area
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