OHLA - comment

OHLA announced that it has now obtained approval from bondholders representing more than 50% in aggregate principal amount outstanding of its 2029 notes. With this level of support, the company has obtained sufficient votes to approve the noteholder resolutions before the expiration time. This avoids a potential enforcement order from triggering the default clauses or immediate enforceability of part of its debt, as long as the resolution issued in the ruling from Qatar is not final. This approval was expected but eliminates the technical risk of early maturity of the notes.