Abengoa opens a period of accessions to its restructuring proposal

Abengoa opens a period of accessions to its restructuring proposal



The energy and technology group Abengoa has signed a block contract with its main creditors and has opened a deadline for the rest to join the restructuring proposal announced on September 30, today announced to the National Securities Market Commission (CNMV).

The "lock-up" contract, which suspends the exercise of a series of rights by creditors, has been signed with investors who hold the majority of the old "senior" debt, and most of them of the second tranche of the new debt issued after the restructuring agreement of 2017 and of the lines of guarantees derived from that refinancing commitment.

The signatories undertake to adopt the necessary actions to facilitate the signing of the restructuring contract no later than January 31 and not to transmit their debt except in certain circumstances.

Abengoa has asked the creditors and guarantors to adhere to the blocking contract.

On September 30, Abengoa announced the signing of a terms and conditions sheet with the entities and investors that owned the majority of tranche 2 of the new debt and with the new guarantors to provide liquidity to the company for an amount of 97 million euros. euros and new lines of guarantees for 140 million.

The proposal included the issuance of a convertible instrument in shares linked to the A3T cogeneration plant, located in Mexico, for a maximum amount of 97 million.

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