Abengoa closes a block contract with part of its creditors and opens a period to add accessions

Abengoa closes a block contract with part of its creditors and opens a period to add accessions


MadridUpdated:

Abengoa subscribed on Monday Lock-up contract with a group of financial institutions and investors that hold the majority of the so-called "New Money 2" – part 2 of the "new" debt of the Andalusian company following the restructuring agreement reached in 2017 -, within the framework of the financial restructuring, for what has opened an adhesion process for the rest of your financial creditors, as reported to the National Securities Market Commission (CNMV).

The creditors of this contract agree suspend the exercise of certain rights and actions under such financing with respect to the corresponding companies of the Abengoa group until January 31, 2019 or any subsequent "long-stop" date agreed upon by the parties, adopt the necessary actions to support or implement the proposed financial restructuring and enter into negotiations to sign a restructuring contract before the "long-stop" date and not sell or convey your debt until that date.

For these purposes, the company has informed the rest of its financial creditors of the adhesion process to the blocking contract. Thus, claimants, guarantor entities and creditors of the «New Money 2» and «Old Money» must send a completed and signed letter of adhesion to Lucid Issuer Services Limited.

For its part, it has required its adhesion to the contract to the holders of the issuance of Abengoa Abenewco 1 senior bonds of 26.09 million euros at an interest rate of 5/9% and maturity in 2021, the issuance of Abengoa Abenewco 2 guaranteed bonds of 492.65 million euros and maturity in 2022 or amount of 424.04 million dollars and maturity in 2022 and the issue of guaranteed bonds of Abengoa Abenewco 2 for 495.26 million euros and maturity in 2023 or 249.43 million dollars and maturity in 2023.

The deadline for sending instructions by the bondholders for the purpose of adhering to the blocking contract ends on January 14, 2019, without prejudice to the possibility that this period may be extended. In addition, the bondholders must send a letter of adhesion no later than five business days after the deadline.

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