Mexican construction firm ICA pays debt with OMA shares
MEXICO CITY, March 18 (Reuters) - Mexican construction company ICA said on Friday that it had paid a debt of 600 million Mexican pesos ($35 million) to financial firm Arrendadora Value with shares of Grupo Aeroportuario Centro Norte, an airport operator known as OMA.
ICA said in a filing with the Mexican stock exchange that it had sold more than 6.8 million OMA shares that were collateral for the loan. It still holds a stake in OMA.
ICA is trying to restructure a hefty debt load outside of court, but it has readied a bankruptcy protection filing in case it fails, sources told Reuters last week.
($1 = 17.2321 Mexican pesos) (Reporting by Michael O'Boyle; Editing by Lisa Von Ahn)
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