ICA grows bond

ICA grows bond


Mexican construction firm ICA raised $700m through the sale of a 10-year non-call five bond on Wednesday, after building a book that was said to be almost ten times subscribed. The bond, which carries an 8.875% coupon, was priced at 97.904, to yield 9.2%. Global coordinators Barclays, Credit Suisse, Deutsche Bank, and Morgan Stanley, and joint bookrunners Bank of America Merrill Lynch and Espirito Santo went out with initial price thoughts on Tuesday of mid-9%, followed by guidanc

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