OHL Brazil Raises 1,372 Million Brazilian Reals (€570 M) Issuing Bonds

OHL Brazil successfully completes the issue of bonds that were made through their four concessionaires in the state of San Paulo (Brazil), for a total of 1,372 million Brazilian Reals (570 million Euros at the current exchange).

The issue, approved by the Brazilian Securities Commission, has been completely subscribed and paid for.

Due to the great demand from investors, the final total was 25 % more than that initially predicted. For that reason the funds will allow the payment of practically all of the short term financial debt of the four concessionaires in the state of San Paulo, as well as the ability to obtain new resources for investment for a rough total of 600 million Reals (250 million Euros).

This operation is part of the OHL Group’s usual financial policy of obtaining financing for their concessionaires without recourse in local currency. It also allows the extension of debt maturity profile to adapt it to the timeframe of the concessionary periods.