OHL Mexico S.A.B. de C.V. (“OHL Mexico” or “the Company”) (BMV: OHLMEX), informs that its subsidiary, Controladora Via Rapida Poetas S.A.P.I. de C.V. (“POETAS”), has successfully concluded its debt refinancing process.
The syndicated loan, in which Banco Nacional de Obras y Servicios Publicos S.N.C. (“BANOBRAS”) and Banco Mercantil del Norte, S.A. (“BANORTE”) participate with 75% and 25%, respectively, consists of a credit line of up to Ps. 6 billion, which will be used to prepay the current syndicated loans with BANOBRAS and BANORTE, fund reserves to service debt, as additional reserve and major maintenance, cover commissions and expenses from the new loan, as well as pay accounts payable and prepay, as much as possible, the subordinated loan held with its shareholders.
The new loan will generate ordinary quarterly interest on the unpaid balance at the rate that results from adding to the 91‐day Interbank Equilibrium Interest Rate (“TIIE”) the following financial spreads:
I. 230 basis points from year 1 to year 17; and
II. 275 basis points from year 18 to year 21
POETAS, a concession in which OHL Mexico has a 50% stake, was concessioned by the Mexico City¿ government in April 2010. It is an urban toll road that links the Toluca and Cuernavaca exits, connecting the South and West of Valle de Mexico.
About the Company
OHL Mexico is one of the largest operators in the private sector of concessions in transportation infrastructure in Mexico and is the leader of its sector in the Mexico City metropolitan area in terms of number of concessions assigned and kilometers managed. The Company’s portfolio includes seven toll road concessions, five of which are in operation and two under construction. These toll road concessions are strategically located and cover basic transportation needs in the urban areas with the highest vehicular traffic in Mexico City, the State of Mexico and the State of Puebla, which combined contributed with 30% of Mexico’s GDP in 2013 and represented 27% of the population and 29% of the total number of registered vehicles (10 million) in Mexico. Furthermore, the Company has a 49% stake of the concession company of the Airport of Toluca, which is the second‐largest airport serving the Mexico City metropolitan area. OHL Mexico initiated operations in 2003 and is directly controlled by OHL Concesiones of Spain, one of the largest companies in the transportation infrastructure segment in the world.
