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Spain’s OHL talks €425 million eight-year notes to yield 5½%-5¾%; pricing Tuesday
By Paul A. Harris
Portland, Ore., March 17 – Spanish construction and concessions group Obrascon Huarte Lain SA (OHL) talked a €425 million offering of eight-year senior notes (B1//BB-) to yield 5½% to 5¾% on Tuesday, according to a market source.
The Regulation S only deal is set to price Tuesday.
Joint global coordinator and joint physical bookrunner Credit Suisse will bill and deliver. Royal Bank of Scotland and UBS are also joint global coordinators and joint physical bookrunners.
The notes become callable after three years at par plus 75% of the coupon.
The Madrid-based company plans to use the proceeds to refinance debt and for general corporate purposes.
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