The first €70m of the proposed €150m equity has arrived at OHLA, and the new investors now have board seats. The Amodio brothers are on the hook for

OHLA expects to complete the SSN exchange and the first part of the equity raise by mid-December (from the new investors), which is positive for

Please find our slightly updated model here.

OHLA is well down the path to completing its restructuring, and today’s operational results show that the company is continuing to perform, albeit slightly below our

All eyes are on the restructuring, but the operating results published late last night were marginally below our expectations. Given the distractions of

OHLA can now proceed with a more straightforward exchange under Spanish law as it has achieved over 90% bondholder support for its

OHLA is now highly likely to achieve an acceptance level for the restructuring plan of over 90% from bondholders. The new bond

Please find our slightly updated model here.

The shape, if not the size of OHLA’s equity raise is beginning to emerge, but as always with OHLA, nothing is straightforward, and there is still the

The EGM is today; we expect the proposals to be approved albeit with some noise from small shareholders. The meeting starts at

Positive news for OHLA as the agreements are close to falling into place for tomorrow’s EGM. The €50m gap in the equity raise is still a hurdle and may come from a mixture of

The banks have reduced guarantee exposure to OHLA but will release €100m of €140m in cash collateral, which is a positive for OHLA. The state

OHLA has finally sought to postpone the coupon payment beyond the EGM on 21st October. The company must still finalise its bank agreements and

An extension of the coupon delay to 18th October was necessary, as the approval of the capital increase will not happen until the EGM on

The coupon postponement to 11 October has been approved. We expect a

OHLA wants bondholders to amend and extend maturities in the 2026 bonds at a lower coupon, but the bondholders are seeking an