Pérez-Llorca advises OHLA on €50 Million capital increase
Pérez-Llorca has advised OHLA, the global infrastructure and concessions group, on the successful execution of a €50 million capital increase, which was fully subscribed during the offer period and significantly oversubscribed, underscoring strong investor confidence in the company’s long-term strategic direction.
The transaction was completed without the need to activate any additional allotment tranche, thanks to robust demand and the overwhelming response from the market. According to the company, the high level of oversubscription reflects investor endorsement of the group’s Business Plan and the company’s focus on operational excellence and growth in high-value markets.
Pérez-Llorca has provided comprehensive legal advice on all aspects of the capital raise. The team was led by Iván Delgado, Corporate Partner, alongside Francisco León (Of Counsel), and corporate lawyers Ángel Martín, Carlos Mercadal, Darío González-Campos, and Cristina Aguilar. Capital markets expertise was provided by Yolanda Azanza, Capital Markets Partner, with tax support from Yi Zhou, Tax Lawyer.
The transaction forms part of OHLA’s broader strategy to drive sustainable growth and financial strength. The company’s Business Plan targets revenues exceeding €5 billion, a doubling of cash generation, and an EBITDA above €300 million by 2029. These ambitions are supported by a sharpened focus on high-margin concession projects in key geographies including the U.S., Latin America, and Central Europe.
The capital increase also aligns with the group’s Operational Efficiency Improvement Plan, aimed at delivering cost savings of approximately €40 million through enhanced project controls, streamlined procurement, and optimized organizational processes.
This move comes amid a continued upward trajectory for OHLA. Since 2019, the company has more than doubled its EBITDA, reduced its leverage ratio from over 11x to 2.2x, repaid €534 million in debt, and expanded its project backlog to a record €9.2 billion.
