Obrascon plans to price €75 million add-on to 4% exchangeable bonds

By Rebecca Melvin

New York, Oct. 23 - OHL Investments SA, a wholly owned subsidiary of Spain's Obrascon Huarte Lain SA, plans to price €75 million of bonds exchangeable into ordinary shares of Obrascon Mexico SAB de CV to yield 4%, according to a news release.

The Regulation S exchangeables, which are due April 25, 2018, are an add-on to an existing issue of €300 million of the bonds priced last April.

The bonds are being sold via UBS Investment Bank as lead manager.

Pricing was expected to be fixed late Wednesday at 100% to 102% of the principal amount of the bonds plus interest from Oct. 25 to the closing date.

The exchange price is €2.7189 per each share of OHL Mexico. The company can settle exchanges in Obrascon Mexico shares, cash or a combination of cash and shares.

The company plans to list the bonds on the Frankfurt Stock Exchange.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.