Obrascon noteholders approve proposals regarding 2022, 2023 notes

By Taylor Fox

New York, Sept. 4 – Obrascon Huarte Lain SA noteholders approved proposals for its €400 million 4¾% notes due 2022 (ISIN: XS1043961439) and its €325 million 5½% senior notes due 2023 (ISIN: XS1206510569) held at second call, according to a news release.

Each of the noteholders’ meetings approved the proposals presented, including the waiver of the noteholder's ability to exercise rights relating to the notes and their rights to accelerate the notes in respect of the security interests granted by Obrascon and other subsidiaries to secure all amounts due under the €140 million credit agreement.

Obrascon will continue discussions with the bondholders in relation to the rest of conditions for the disposal of the second €70 million tranche of the credit agreement.

Obrascon Huarte Lain is a Madrid-based construction and engineering company.

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