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Spanish bankruptcy court gives Abengoa Oct. 28 to get restructuring plan approved

April 6, 2016 |

In Spain, bankruptcy court has granted Abengoa until Oct. 28 to approve its restructuring plan that would see 70% of debt swapped for 35% of equity, while a $2 billion loan would give creditors 55% of the restructured company. Creditors who are willing to stump nearly another $1 billion in guarantees to develop projects would be granted another 5% of the company. The remaining 5% in the restructured company is meant for the original founder of the company.

Abengoa Bioenergy: The Digest’s 2015 – 5 Minute Guide

Category: Fuels

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