Another Large Loan made to a Major Corporation in Spain to Combat Damage from Covid-19

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THE Spanish construction company OHL has entered into an agreement with a number of banks to borrow €140 million in order to protect its liquidity.

As is becoming more common with large loans, a condition was that it should be substantially guaranteed by the Official Credit Institute (ICO) which is an arm of Spain’s government and it has accepted a 70 per cent risk.

The loan is due to be repaid the end of October 2021 by which time the company expects business to return to normal.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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