OHLA completes its Recapitalization Trasaction at the anticipated maximum levels
February 13, 2025
• The Group strengthens its capital and corporate structure.
• It reduces its leverage ratio by more than 9 times in 5 years.
OHLA has reached its latest milestone within the Recapitalization framework presented to its shareholders last October. This Thursday, the company successfully completed the final outstanding actions within this process, including repaying the debt as planned and addressing other formal matters.
The completion of this process, which has been implemented in full compliance with all deadlines and commitments approved by the shareholders at the Extraordinary General Meeting, enables the company to strengthen its capital structure. With this improved financial stability, OHLA is well-positioned to drive its international expansion and maintain its competitiveness in an increasingly dynamic market environment.
As a result of this process, which was completed in record time with oversubscription from all involved parties and at the announced maximum levels, the Group has reduced its gross financial debt leverage ratio by nearly 9 times compared to 2019. After allocating 190 million euros to cancel debt and pay the coupon, the OHLA Group is now at levels comparable to similar companies and has alleviated its financial burden.
As part of this Plan, it is worth noting that the company has secured the release of its reference banks from most of the guarantees previously granted to the OHLA Group, amounting to 100 million euros. Additionally, the capital increase, which was oversubscribed to its maximum amount of 150 million euros, has attracted new investors to OHLA’s capital and contributed to reinforcing its financial and corporate position.
These two milestones, along with the extension of the maturity of the remaining debt in bonds until December 31, 2029 (without partial maturities and with a lower exit coupon), the relaxation of certain terms and conditions, and the support for the Group’s Business Plan through guarantees, all contribute to improving the Company’s positioning to meet the objectives of its Business Plan.