ICA to Price Perp Friday

Mexico’s ICA is expected to price a $300m-$400m perpetual bond Friday, according to a person with knowledge of the transaction. A price around 9% is the target, he adds. The bonds are callable in 5 years and rated Ba3/BB minus. BAML, Morgan Stanley and Santander are leads on the deal, which is being roadshowed in New York, Boston, Singapore, Hong Kong, Switzerland and London this week, ending Thursday.