Spain's Obrascon Huarte Lain to start Europe-only roadshow Monday for benchmark five-year notes

By Paul A. Harris

St. Louis, April 8 - Obrascon Huarte Lain SA will begin a Europe-only roadshow on Monday for its benchmark-sized euro-denominated offering of five-year senior unsecured notes (expected ratings Ba1/BB-), according to market sources.

The Regulation S-only deal will have a roadshow Monday and Tuesday in London and on Wednesday in Paris and Frankfurt.

Santander, Citigroup, Credit Agricole, RBS and SG Corporate & Investment Banking are the joint bookrunners.

The notes will be non-callable.

Proceeds will be used to repay revolver debt and for general corporate purposes.

The Madrid, Spain-based construction and engineering company is concurrently in the market with an exchange offer for up to €300 million of its 5% notes due 2012.

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