OHL Places Mexico-Linked Convert

Spain’s OHL has sold EUR100m ($139m) in bonds convertible into shares of its OHL Mexico subsidiary. The infrastructure specialist announced Wednesday morning a reopening of the issue, originally sold in April, to offer EUR75m of the 2018 bonds that pay a 4.0% coupon. The transaction was upsized to EUR100 and priced at 102.0, according to Dealogic data. The bonds are convertible at the holder’s discretion into OHL Mexico shares at a price of EUR2.72 per share, according to regulatory filings. OHL Mexico shares closed at MXP34.06 ($2.62), or EUR1.90, Wednesday. UBS managed the transaction, which follows the original EUR300m sale in April.