Cuatrecasas guides bondholders in OHLA’s €150M recapitalization
Cuatrecasas has advised an ad hoc group of bondholders in the recapitalization of Obrascón Huarte Laín (OHLA), a Spanish multinational construction and civil engineering group, concluded on February 13, 2025. The recapitalization included a capital increase of 150 million euros, with 70 million euros contributed by new investors and 80 million euros subscribed by existing shareholders, new investors, and company employees.
Additionally, a partial bond redemption of 139 million euros was executed, and the maturity of the remaining bonds was extended to December 31, 2029.
For bondholders, the transaction resulted in a significant partial repayment of debt, providing greater certainty about the recovery of their investment. The recapitalization has also led to changes in OHLA’s governance structure following the initial capital increase.
The multidisciplinary team of Cuatrecasas has been composed of lawyers from various offices of the firm, including Madrid, Barcelona, London, New York, Bogota, Lima, Mexico City, and Santiago.
The transaction was led by Ignacio Buil (pictured), coordinating partner of the firm’s restructuring group, along with lawyers Julia Signes and Fernando Garí. Other team members included Patricia Álvarez, Natalia Arango, Roberto Guerrero, Kiomi Osorio, Gizeh Polo, Manuel Quinche, Aldo Reggiardo, José Luis Rodríguez, Federico Espinosa, and Ignacio Ínigo. The team worked in collaboration with the law firm Weil, Gotshal & Manges and financial advisors PJT Partners.
The team worked in collaboration with the law firm Weil, Gotshal & Manges, and financial advisors PJT Partners.
