Issue of Debt (4043Z)

TIDM50ML

RNS Number : 4043Z

Obrascon Huarte Lain, S.A.

15 March 2012

OBRASCON HUARTE LAIN, S.A. (the "Company"), in compliance with the provisions of article 82 of Act 24/1988, of 28 July, on the Securities Market (Ley del Mercado de Valores), by means of this document notifies the National Securities Market Commission (CNMV) of the following

RELEVANT FACT

The Board of Directors of the Company, exercising the authorisation granted by the General Shareholders Meeting held on 26 November 2009, has approved to issue senior notes, whose definitive terms and conditions will be established on the basis of the result of the book-building to be carried out by the Joint Bookrunners of the transaction: Credit Suisse Securities (Europe) Limited (acting as Global Coordinator), together with Banco Santander, S.A., Citigroup Global Markets Limited, Credit Agricole CIB, Merrill Lynch International, Societe Generale and The Royal Bank of Scotland plc as Joint Bookrunners, and Banco Bilbao Vizcaya Argentaria, S.A., Banco Espanol de Credito S.A., Bankia, S.A., CaixaBank S.A., ING Bank N.V., London Branch, and Natixis as Lead Managers (the "New Issue").

The terms and conditions of the notes, intended for international qualified investors, will be governed by English Law and it is anticipated that an application will be made to admit the senior notes to trade on the London Stock Exchange's regulated market.

The Company has considered it appropriate to carry out a cash tender offer of its EUR 700,000,000 7.375 per cent. Notes due 2015, issued in 2010 and listed on the London Stock Exchange, for up to a maximum initial amount of EUR 300,000,000 (the "Target Repurchase Amount") although the Company reserves the right, in its sole discretion, to purchase less than or more than the Target Repurchase Amount.

The Company will determine, in its sole discretion, the aggregate principal amount outstanding of notes that it will accept for purchase pursuant to the tender offer (the "Maximum Repurchase Amount"), which might be inferior or superior to the Target Repurchase Amount.

The terms and conditions of the tender offer of the notes are set out in the Tender Offer Memorandum prepared by the Company which is at the disposal of the investors. All investors are advised to read it. The Tender Offer Memorandum can be obtained from the Dealer Managers: Credit Suisse Securities (Europe) Limited, Banco Bilbao Vizcaya Argentaria, S.A., Banco Espanol de Credito S.A., Banco Santander, S.A., Bankia, S.A., CaixaBank S.A., Citigroup Global Markets Limited, Credit Agricole CIB, ING Bank N.V., London Branch, Merrill Lynch International, Natixis, Societe Generale and The Royal Bank of Scotland plc.

The noteholders who are subject to the tender offer may submit their tender instructions from 15 March 2012 until 16:00 hours (CET) on 23 March 2012. The Company will announce whether or not it has decided to accept valid tenders of the notes and, if applicable, the result of the tender offer on 26 March 2012, even though it could modify the dates and other terms of the tender offer in accordance with Tender Offer Memorandum mentioned above.

The tender offer shall be subject to the receipt of the funds raised through the New Issue in order to enable the Company to finance the aggregate total consideration for notes validly tendered and accepted pursuant to the Offer.

Madrid, 15 March 2012

IMPORTANT INFORMATION

The information contained in this document does not constitute or form part of an offer to sell, or the solicitation of an offer to buy, securities in the United States, Canada, Australia or Japan. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offering in the United States of the securities mentioned herein. No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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