Empresas ICA in Tender Offer and $700 Million Offering of 8.875% Senior Notes

June 2, 2014

Cleary Gottlieb represented Empresas ICA, as issuer in its tender offer for its outstanding 8.375% Senior Notes due 2017 and its concurrent $700 million offering of 8.875% Senior Notes due 2024. 59.96% of the outstanding 2017 notes were tendered under the tender offer. The new notes were offered in the United States under Rule 144A and outside the United States under Regulation S. The notes offering closed on May 29 and early settlement of the tender offer closed on June 2.

Credit Suisse and Deutsche Bank Securities acted as dealer managers for the tender offer. Barclays, Credit Suisse, Deutsche Bank Securities and Morgan Stanley acted as global coordinators and active joint bookrunners, BofA Merrill Lynch and Espirito Santo Investment Bank acted as joint bookrunners and BBVA and Santander acted as co-managers for the notes offering.

ICA is Mexico’s largest construction and infrastructure operations company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads and water systems. Founded in 1947, ICA is listed on the Mexican and New York stock exchanges.