ICA bond details come into focus

ICA bond details come into focus

Bonds

Mexican construction firm ICA is planning to sell a $600m five-year bond, according Moody’s, which has assigned a B2 rating. ICA was due to finish a three-team global roadshow for the deal on Tuesday. The bond will be secured and guaranteed by ICA’s main operating subsidiaries, the agency said. Moody's highlighted the company’s high liquidity risks. ICA held about MXN5bn in cash by March-end, and has around MXN10.4bn in debt due in the next 12 months, metrics which prompted Moody’s to give a neg

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