The Association of Corporate Treasures awards OHL for its Eurobond issue April 2010

February 18, 2011

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The exchange offer that OHL included in its final Eurobond issue in April 2010 to redeem the bonds early 2007, has been awarded the prize Liability Management Deal of the Year given by The Association of Corporate Treasurers (ACT), which will mention the award in its journal The Treasurer.

On behalf of OHL, Francisco J. Melia, director of investor relations and international corporate finance, accepted the award on 10 February in London. In the ceremony, Francis J. Melia said the winning operation “has been good for OHL since it has allowed us to advance in our financial policy of covering permanent needs with long-term financing, based in the capital markets. It has increased OHL’s excellent exposure in the international capital markets and the group’s investor portfolio, therefore giving the Group more financial flexibility. “

Melia added that the operation was made even more valuable by the market situation of low liquidity and high financing costs, and stressed that it has enabled OHL to diversify its financing sources, reducing the weight of bank debt, and improve the maturity profile of long-term debt.

With the issuance of Eurobonds, OHL attracted EUR 700 million maturing in 2015 and a yield of 7.375% per annum, payable twice-yearly. The face value of bonds issued in 2007, due to mature in 2012, which welcomed the offer of exchange for newly issued debt was 178 million euros, 30% of the outstanding bonds, a percentage at the higher end of these operations.

Banco Santander, Citigroup, Credit Agricole CIB, The Royal Bank of Scotland and Societe Generale were the joint bookrunners of the issue.

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