ICA Announces Non-Payment of Interest for Senior Notes Due 2021
February 04 2016 - 5:30PM
MEXICO CITY, Feb. 04, 2016 (GLOBE
NEWSWIRE) -- 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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Empresas ICA, S.A.B. de C.V. via
Globenewswire
HUG#1983929