OHLA secures support of over 50% of its bondholders for its recapitalization

OHLA has obtained the support of over 50% of its bondholders for its recapitalization plan, which will allow the company to reduce its debt by 400 million euros.

The plan, which has been approved by the bondholders' assembly, contemplates extending the maturity of the bonds by three years, from 2024 to 2027, and reducing the interest rate from 7% to 4.5%.

The company has also agreed to issue new bonds for an amount of 100 million euros, with a maturity of five years and an interest rate of 6%, to those bondholders who do not accept the extension and reduction of the current bonds.

OHLA's recapitalization plan has been well received by the market, as it will allow the company to reduce its debt and improve its financial flexibility. The company's shares rose by more than 5% on the day of the announcement.

OHLA's financial situation has been improving in recent months, thanks to the good performance of its construction and services businesses. The company has also been benefiting from the recovery of the Spanish economy.

The recapitalization plan will allow OHLA to continue growing and investing in new projects. The company is currently working on several major projects, such as the expansion of the Panama Canal and the construction of a new terminal at the Al Maktoum Airport in Dubai.