OHLA, a global infrastructure company, achieves a massive support from its existing bondholders for its recapitalization plan. In just two weeks, the company has obtained adherences to the lock-up agreement (LUA) of more than 93% of the principal amount of outstanding bonds. 

The strong support received from the Bondholders for the Recapitalization transaction demonstrates the creditors’ confidence in the Company’s business and the viability of the proposed transaction. This accelerates the timeline for closing the transaction, as it allows for its implementation on a consensual basis, avoiding the need to use other drag-along tools (including a scheme of arrangement) or coercive measures that would delay the process’s implementation. 

The company thus reaches a key milestone in its recapitalization process. A process that, for the first time in 6 years, achieves the return to the company of existing guarantees in favor of the Banks, attracts the investment of new investors in OHLA’s capital, extends the maturity of the debt until December 31, 2029, makes certain terms and conditions of the Bonds more flexible, achieves the support in guarantees to the Business Plan and, all this, paying at the time of the recapitalization a lower cost of the Bond (i.e. coupon) than the current one. In this regard, it should be noted that OHLA has already secured more than 100 million euros of the total capital increase. 

This OHLA recapitalization operation has the support of the current reference shareholders, banks, 93% of the bondholders, new investors, and was approved last October 22nd by the shareholders in an Extraordinary General Meeting. 

OHLA continues to work on the process and will continue to report on its evolution, maintaining its commitment to transparency with the market and its stakeholders.