Mortgaging 43% of OHL in Spain; in Mexico faces fines by allegations of corruption – Aristeguinoticias

Grupo Villar Mir , owner of the Spanish construction OHL, has mortgaged 43% of the company in various lending institutions and totaling an amount of 657 million euros.

in a note published by the Iberian newspaper Cinco Dias, the group founded by Juan Villar Mir has 57% of OHL , but the significant drop in the price of their titles since the beginning of the year, has eroded the value of these guarantees. This package is now worth about 290 million euros, 57% less than the amount of the loans.

According to the latest financial report, the collapse of the company’s shares has been 57.8% since the beginning 2016 and its securities are 2003 levels.

Grupo Villar Mir has a group of actions representing 7.22% of OHL in derivative agreements, known as’ equity swap ‘, with three banks: Santander (0.466% of the shares), Societe Generale (1.673%) and Natixis (5.084%).

the family holding company explains that “agrees” to pay the difference in price between the start date and the maturity date of these obligations and despite not specify the value of title on the date of constitution nor the maturity, the fall in the stock market in recent months suggests that the difference would be negative for the Villar Mir Group.

“ the company undergoes a via crucis in year , after allegations of corruption in Mexico, who finished as mere administrative offenses fined 3.6 million euros, and doubts about its future profitability, which have set off alarm bells among analysts. The price of OHL is the record high of 19.7 euros per share reached June 19, 2014 light years, “says the text of the Spanish daily.

In addition, the remaining their shares in OHL are linked to the agreement with the fund Tyrus , one of the three who has signed with collateral actions.

according to the records of the CNMV, short positions of the funds OHL exceed 6% of the capital, which have been growing in recent weeks, with Oxford and Marshall Wace in his head.

Finally, Grupo Villar Mir explained that the end of last year had provided guarantees to third parties for 4,480 million euros . Of this amount, 4,233 million are presented guarantees “to government agencies and private clients to ensure the success of the execution of the works, and the remainder to provisional guarantees for project bids.”