ICA Announces Non-Payment of Interest for Senior Notes Due 2021
February 04 2016 - 5:30PM
Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA),
the largest infrastructure and construction company in Mexico,
announced today that the Company’s Board of Directors has decided
that ICA will not pay the approximately US$22 million interest
payment that is due on February 4, 2016 on ICA’s 8.9% senior notes
due 2021. ICA has made this decision in order preserve liquidity,
prioritize ongoing operations, and fund projects currently under
development.
This press release contains 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.
Empresas ICA, S.A.B. de C.V. is Mexico's
largest infrastructure company. ICA carries out large-scale civil
and industrial construction projects and operates a portfolio of
long-term assets, including airports, toll roads, water systems,
and real estate. Founded in 1947, lCA is listed on the Mexican and
New York Stock exchanges. For more information, visit
ir.ica.mx.
For more information, please contact:
Gabriela Orozco
gabriela.orozco@ica.mx
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3012
Pablo Garcia
Chief Financial Officer
pablo.garcia@ica.mx
In the US:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson@zemi.com