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

The ICO HQ in Madrid Credit: ICO

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.

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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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