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Obrascon completes restructuring, including over 2022, 2023 notes
By Wendy Van Sickle
Columbus, Ohio, June 28 – Obrascon Huarte Lain SA said that all of the transactions foreseen to conclude the company’s restructuring have been completed as of Monday, including the restructuring of the terms and conditions of 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.
The restructuring of the notes was through a combination of a partial write-off, capitalization of part of the principal amount of the notes through a share capital increase and the exchange of notes for €487,266,804 of senior secured notes issued by a newly incorporated company, OHL Operaciones, which is fully owned and guaranteed by the company.
Obrascon Huarte Lain is a Madrid-based construction and engineering company.
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