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ICCGSA Inversiones placed successfully its first issuance of its first corporate bond program in S/. 61’450,000
ICCGSA Inversiones S.A., company of the ICCGSA Group (Ingenieros Civiles y Contratistas Generales S.A), one of the main construction and engineering companies of the country, placed its First Issuance of S/ 61’450,000 in its First Corporative Bond Program of S/. 155 million, this afternoon.
The bonds were issued in two series:
- The first serie of S/. 38’300,000 in 5 years with a fixed interest rate of 6.375%.
- The second serie of S/. 23’150,000 in 10 years (with 5 years of grace) with a fixed interest rate of 8.000%.
The obtained resources in this First Corporative Bond Program will be allocated to finance its 2015-1016 investment plan, focused on (i) the reimbursement of investments executed by its Principal Subsidiaries before this issuance date, and (ii) finance new investments (a) in real estate, agribusiness and/or forestry activities; and/or (b) in the development of concessions in the context of Public-Private Partnerships (APP for its Spanish acronym), to be executed by its Principles Subsidiaries.
The entrance of ICCGSA Investment into the stock market shows the business strength of the company, confirmed in AA classification granted to this first corporative bond program by three prestigious risk rating agencies of the local market: Apoyo & Asociados (Affiliated to Fitch), Equilibrium risk rating agency (Affiliated to Moody’s) and Class y Asociados. This reflects a high capacity to pay the capital and interest in terms and conditions agreed.
“This successful corporative bond issuance of ICCGSA Investment S.A. is based on the strength of ICCGSA Group showed during its first fifty years of history, devoted to the development of our country” said Fernando Castillo Dibós, General Manager Director of ICCGSA.
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