Empresas ICA, S.A.B. de C.V.: ICA Announces Non-Payment of Interest for Senior Notes due 2017 and Management Change
(Thomson Reuters ONE) -
MEXICO CITY, Jan. 20, 2016 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de
C.V. (BMV: ICA) (NYSE:ICA), the largest infrastructure and construction company
in Mexico, ICA announced today that the Company's Board of Directors has decided
that ICA will not pay the approximately US$6 million interest payment that is
due on January 25, 2016 on ICA's 8.375% senior notes due 2017. ICA has made
this decision in order preserve liquidity, prioritize ongoing operations, and
fund projects currently under development. The Company is exploring various
options to help manage its indebtedness, but currently has no specific
transactions planned other than those previously reported.
Appointment of Financial Restructuring Officer
ICA also announced that it has retained Guadalupe Phillips Margain as Financial
Restructuring Officer, to assist with ICA's restructuring initiatives. Ms.
Phillips has over twenty years of experience in Mexican markets and was most
recently Vice President of Finance and Risk with Grupo Televisa, S.A.B. She
holds a law degree from the Instituto Tecnológico Autónomo de México (ITAM) and
an M.A. and Ph.D. from the Fletcher School of Law and Diplomacy at Tufts
University. Orlando Loera is no longer with the Company.
This press release contains projections or other forward-looking statements
related to ICA that reflect ICA's current expectations or beliefs concerning
future events. Such forward-looking statements are subject to various risks and
uncertainties and may differ materially from actual results or events due to
important factors such as changes in general economic, business or political or
other conditions in Mexico, Latin America or elsewhere, changes in capital
markets in general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in tax and other laws affecting ICA's
businesses, increased costs, unanticipated increases in financing and other
costs or the inability to obtain additional debt or equity financing on
attractive terms and other factors set forth in ICA's most recent filing on Form
20-F and in any filing or submission ICA has made with the SEC subsequent to its
most recent filing on Form 20-F. All forward-looking statements are based on
information available to ICA on the date hereof, and ICA assumes no obligation
to update such statements.
Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA
carries out large-scale civil and industrial construction projects and operates
a portfolio of long-term assets, including airports, toll roads, water systems,
and real estate. Founded in 1947, ICA is listed on the Mexican and New York
Stock exchanges. For more information, visit ir.ica.mx.
For more information, please contact:
Elena Garcia
elena.garcia(at)ica.mx
Gabriela Orozco
gabriela.orozco(at)ica.mx
relacion.inversionistas(at)ica.mx
+(5255) 5272 9991 x 3608
Pablo Garcia
Chief Financial Officer
pablo.garcia(at)ica.mx
In the US:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson(at)zemi.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Empresas ICA, S.A.B. de C.V. via GlobeNewswire
[HUG#1980216]
Datum: 20.01.2016 - 15:19 Uhr
Sprache: Deutsch
News-ID 445391
Anzahl Zeichen: 3987
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Kategorie:
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