OHL Emisiones, S.A.U., a wholly-owned subsidiary of Obrascón Huarte Lain, S.A. (OHL), recently announced the commenced of a private placement among qualified investors of 69,326,692 shares of Abertis Infraestructuras, S.A., representing 7.0% of the share capital of Abertis. 

Therefore, the value of the transaction, which is expected to close within this week, would reach up to €815 million (US$1 billion).

Bank of America Merrill Lynch, JP Morgan and UBS have acted as joint bookrunners in the transaction.

The aim of the Placement is to obtain funds in OHL Concesiones, S.A.U. for: the partial repayment of the existing margin loan on Abertis shares, the full repayment of the margin loan on OHL Mexico S.A.B. de C.V. and to finance capital commitments for the new concessions. The Joint Bookrunners or their respective affiliates are either lenders under or are otherwise economically exposed to the margin loan on Abertis shares described above.

The agreement entered into between the OHL Emisiones and the joint bookrunners in connection with the placement contains customary representations, warranties and undertakings, including an undertaking to not transfer or dispose of any further equity securities of Abertis by OHL for 180 days from completion of the placement, provided that such undertaking does not apply to transfers of equity securities of Abertis pursuant to enforcement of any existing security interest created over such equity securities.