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Obrascon Huarte Lain holders may put 7 5/8%, 4¾% and 5½% notes
By Susanna Moon
Chicago, April 12 – Obrascon Huarte Lain, SA notified holders of put options under three series of its notes due a change of control.
The put options were triggered under the note terms because issuer has agreed to the sale of 100% of the issued share capital of its subsidiary OHL Concesiones, SAU to IFM Global Infrastructure Fund, which constitutes a change of control under the note terms, according to three separate company notices.
The notes covered by three separate put option notices are as follows:
• €187,079,000 of outstanding €300 million 7 5/8% senior notes due 2020;
• €394.5 million of outstanding €400 million 4¾% senior notes due 2022; and
• €312,863,000 of outstanding €325 million 5½% senior notes due 2023.
The notes are putable for 30 days until May 12 at a price of 101% plus accrued interest up to but excluding the put date of May 19. The redemption date will be May 21.
Obrascon Huarte Lain is a Madrid-based construction and engineering company.
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