OHLA's Recapitalization Plan Gets Support From Over 50% of Bondholders

The construction company has been struggling with debt for years

The plan will reduce OHLA's debt by €1.2 billion

OHLA, the Spanish construction company has received the support of over 50% of its bondholders for its recapitalization plan. The plan will reduce OHLA's debt by €1.2 billion and will give the company a much-needed financial lifeline.

OHLA has been struggling with debt for years. In 2019, the company's debt was almost €3 billion. The COVID-19 pandemic has made the situation worse. OHLA's revenue fell by 20% in 2020 and the company has been forced to sell off assets to raise cash.

The recapitalization plan will reduce OHLA's debt by €1.2 billion. The company will do this by issuing new shares and by converting some of its debt into equity. The plan will also give OHLA a new €500 million credit facility from a group of banks.

The recapitalization plan is a positive step for OHLA. The plan will reduce the company's debt and give it a much-needed financial lifeline. The plan will also give OHLA more flexibility to invest in its business and grow.

The plan has been criticized by some bondholders

Some bondholders believe that the plan is unfair to them

They argue that they should receive more compensation for their losses

The recapitalization plan has been criticized by some bondholders. Some bondholders believe that the plan is unfair to them. They argue that they should receive more compensation for their losses.

The criticism from bondholders is understandable. However, it is important to remember that OHLA is a company in financial distress. The recapitalization plan is the best way to ensure that the company survives and that bondholders receive some of their money back.

The plan is still subject to court approval

The court will need to decide if the plan is fair to all creditors

If the court approves the plan, it will be implemented

The recapitalization plan is still subject to court approval. The court will need to decide if the plan is fair to all creditors. If the court approves the plan, it will be implemented.

The recapitalization plan is a positive step for OHLA. The plan will reduce the company's debt and give it a much-needed financial lifeline. The plan will also give OHLA more flexibility to invest in its business and grow.