Empresas ICA in $350 Million Notes Offering

July 24, 2012

Cleary Gottlieb represented Empresas ICA (“ICA”) in its sale of $350 million 8.375% Senior Notes due 2017. BofA Merrill Lynch, Goldman, Sachs, Deutsche Bank, BBVA, Morgan Stanley and Santander acted as initial purchasers in the transaction, which closed on July 24. The notes were sold in a Rule 144A/Regulation S offering and will be listed on the Luxembourg Stock Exchange. The proceeds from the sale will be used to repay outstanding debt.

ICA is Mexico’s largest construction and infrastructure operations company. Founded in 1947, ICA’s principal lines of business are civil and industrial construction and engineering, housing and infrastructure operations, including airports, toll roads and municipal services. Cleary Gottlieb has acted as counsel to ICA in a total of $850 million of bond financing since January 2011.