OHLA once again delays debt payments until October 31

MADRID, October 14 (EUROPE PRESS) –

OHLA has once again asked its bondholders to defer the payment of the next coupon on the debt, originally scheduled for September 15 and which it now hopes to pay on October 31.

This was communicated to the National Securities Market Commission (CNMV) after three payment deferments had already been agreed upon: the first until October 4, the second until October 11 and the third until the 18th of the same month while negotiations continue. receive an injection of capital.

In particular, the company, whose main shareholders are the brothers Luis and Mauricio Amodio, has already entered into an agreement with Excelsior Times (a group owned by businessman José Elias) and Inmobiliaria Coapa Larca (owned by Mexican businessman Andres Holzer), provided that the construction company reaches a satisfactory agreement with the company’s reference banks and holders of bonds issued by the group.

In this sense, OHLA will hold an extraordinary general meeting on October 21, at which it will present for the approval of its shareholders the capital increase of up to 150 million euros, agreed with these investors on September 17.

The deadline for noteholders to accept the deferment of the coupon will expire at 17:00 on October 17, without prejudice to its ability to extend, reopen or terminate in accordance with the terms of the Consent Document.

Last week the company also received bondholder approval to extend the maturity of a €40 million bridge financing received in May 2023 in connection with the sale of its services subsidiary (Ingesan) and subject to ICO approval to a date no later than 31 March 2025 compared to the previous commitment to pay it by the end of 2024.

Its debentures due in March 2025 will account for 50% and the remaining 50% in March 2026, for a total of €412 million, so the first refinancing will impact around €206 million, with the company also in talks to extend the maturity . deadline for the second payment.

This Monday, OHLA shares rose 5% on rumors that the construction company has already closed all the details to close this capital increase. Company sources consulted by Europa Press declined to comment on the matter.