OHL launches an offer to repurchase bonds for 300 million euros

OHL has launched a bond repurchase plan for a total of 300 million euros, for issues listed on the regulated market of the London Stock Exchange:

• Issue of 300 million euros at 7.625% with maturity in 2020.
• Issue of 400 million at 4.750%.
• Issue of 325 million at 5.50%.

Settlement of the repurchase offer will be subject to closing the capital increase with preferential subscription rights, announced to the market today, 7 October.

The terms and conditions of the offer are available in a tender offer memorandum. Merrill Lynch acts as the lead arranger. This document is available upon request to the agent, Lucid Issuer Services Limited.

All current bondholders may place their orders starting today, 7 October 2015, and until 17:00 hours on 21 October 2015. OHL will announce whether or not it has accepted the orders received and the result of the repurchase offer, if any, on 30 October. However, it may change the dates and other terms pursuant to the provisions of the offer memorandum.

Optimization of costs

The bond repurchase transaction is part of the OHL Group’s financial policy to optimize costs and reduce debt, foreseen in its 2015-2020 Strategic Plan.