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Obrascon Huarte Lain (50ML)


Friday 30 April, 2010

Obrascon Huarte Lain

OHL Brasil SA Bond Issues

RNS Number : 1562L
Obrascon Huarte Lain, S.A.
30 April 2010

London Stock Exchange


Madrid, April 30th 2010



Ref.: Notification of Significant Event: OHL Brasil, S.A. Bond Issues



Dear Sirs,



The company, OBRASCON HUARTE LAIN, S.A. (OHL), in compliance with current legislation, hereby reports the following Significant Event:


In reference to the significant event published on February 19th 2010 of Obrascon Huarte Lain Brasil, S.A. issuing bonds through its four concessionaire subsidiaries in the State of Sao Paulo, the company informs that the transaction has been approved by the Sao Paulo Stock Exchange Commission and that the issues were successfully closed for a total amount of 1,372 million brazilian Reais (equivalent to approximately 570 million Euros at current exchange rates). The issue has been totally subscribed and disbursed.


Given the strong existing demand the final amount has been 25% higher than what was initially expected, and therefore the amount raised has allowed to cancel the existing short term debt and capture 600 million brazilian Reais of new money for investments (equivalent to approximately 250 million Euros).


This transaction is in accordance with the Group's established financial policies for the concessionaire companies, which is to obtain non-recourse financing in local currency. It has enabled the Group to cancel practically all the existing short term debt in the concessionaire companies and to extend the maturity of the debt profile matching it to the concessionaire's contractual terms.



Yours faithfully,



José María del Cuvillo Pemán
Vice-Secretary of the Board of Directors


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