Obrascon Huarte Lain holders tender €176.25 million of 7 3/8% notes

By Angela McDaniels

Tacoma, Wash., March 26 - Obrascon Huarte Lain, SA received tenders for €176.25 million of its €700 million of 7 3/8% notes due 2015, according to a company news release.

The company offered to purchase up to €300 million of the notes. The tender offer began March 15 and ended at 10 a.m. ET on March 23.

The purchase price on offer is 105.5% of par plus accrued interest.

The tender offer is expected to settle on March 27 and remains subject to the settlement of the company's €300 million issue of 7 5/8% senior notes due 2020. The new issue priced March 15 and is expected to settle March 27.

Credit Suisse (44 0 207 883 8763) was the lead dealer manager. The other dealer managers were Banco Bilbao Vizcaya Argentaria, SA (44 0 207 648 7516), Banesto (34 91 388 3275), Bankia, SA (rbenede@bankia.com, afernandezd@bankia.com or jpoblet@bankia.com), Bank of America Merrill Lynch (44 0 207 995 3715 or 44 0 207 995 2324), CaixaBank (34 91 700 5610 or 34 60 917 9757), Citigroup (44 0 207 986 8969) Credit Agricole CIB (44 0 207 214 7408), ING (44 0 207 767 7738), Natixis (34 91 791 7538), Santander Global Banking & Markets (34 91 257 2028 or 34 91 257 2117), Societe Generale CIB (44 0 207 676 7579) and Royal Bank of Scotland (44 0 207 085 5991). Lucid Issuer Services Ltd. (44 0 207 704 0880) was the tender agent.

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

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