OHLA once again postpones debt payments until October 31 – Idealista/news

OHLA has once again asked its bondholders to defer the payment of the next debt couponoriginally scheduled for September 15, it is now expected to be paid on October 31.

This was reported National Securities Market Commission (CNMV)having already agreed on three payment deferments: the first until October 4, the second until October 11 and the third until the 18th of the same month, while negotiations on the capital injection continue.

In particular, the company with brothers Luis and Mauricio Amodio as major shareholders

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 with the holders of the bonds issued by the group.

In this sense, OHLA will celebrate Next October 21st extraordinary general meeting in which it will submit for the approval of its shareholders the capital increase of up to 150 million euros, agreed with these investors on 17 September.

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 mature in March 2025 (50%) and March 2026 (remaining 50%).for a total of 412 million euros, meaning the first refinancing will affect approximately 206 million euros, while the company is also negotiating an extension to the second payment.

This Monday, OHLA shares rose 5% due to rumors which indicate that the construction company He has already closed all the details to close this capital increase.. Company sources decline to comment on the matter.