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ICA Lands First Mexican Domestic Project Bond

Sep 30, 2011

Two units of ICA have raised MXP7.1bn ($518m) to construct two prisons in what is being called Mexico’s first domestic market project bond. The 20.8-year deal is backed by contracts that ICA’s Sarre and Papagos units have with Mexico’s secretary of public safety to build and operate prison facilities. Bankers on the deal say it is the first time an infrastructure project...

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There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.

Luis Fernando Andrade, Colombian National Infrastructure Agency


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