It is confirmed that Abengoa will survive thanks to a combination of debt to equity swap and new debt funding. Old shareholders will be left with 5% of the company. Signing off by stakeholders should be completed by late October. Debt holders should represent at least 75% of the outstanding debt to get the plan through. Non-players will be left with 3% of their principal. Globally, the total input of liquidity represents €1,169m of which €515m has already been received by the company since Septe ....
19 Aug 2016
Narrow escape from bankruptcy
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Narrow escape from bankruptcy
It is confirmed that Abengoa will survive thanks to a combination of debt to equity swap and new debt funding. Old shareholders will be left with 5% of the company. Signing off by stakeholders should be completed by late October. Debt holders should represent at least 75% of the outstanding debt to get the plan through. Non-players will be left with 3% of their principal. Globally, the total input of liquidity represents €1,169m of which €515m has already been received by the company since Septe ....