Empresas ICA, S.A.B. de C.V. announced that it has priced $700 million of new Senior Notes due 2024. The Senior Notes have an annual interest rate of 8.875% per year payable semi-annually, with a yield to maturity of 9.2%. The Senior Notes are being issued pursuant to exemptions from registration provided under Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.

The Notes will be issued by Empresas ICA, S.A.B. de C.V. and guaranteed on a senior unsecured basis by Constructoras ICA, S.A. de C.V., Controladora de Operaciones de Infraestructura, S.A. de C.V. and Controladora de Empresas de Vivienda, S.A. de C.V., each a subsidiary of the Company. The proceeds will be used to pay short-term parent company debt and fund a partial tender offer for of ICA's outstanding 8.375% Senior Notes due 2017. This is intended to improve the Company's debt maturity profile.

The Senior Notes have not been and will not be registered under the Securities Act or any state securities laws and were offered to qualified institutional buyers in reliance on Rule 144A under the Securities Act or to non-U.S. persons in accordance with Regulation S under the Securities Act. Unless so registered, the Senior Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.