The transaction involved a total of 35 financial institutions. An extension by more than three years has been obtained.
Abengoa (MCE: ABG), the international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, has successfully completed the refinancing and syndication of €1.566 billion of its long term bank corporate debt.
The refinancing was led by Bankia, Bank of America ML, Citibank, Banco Popular, Sabadell, Banco Santander and Société Générale, which acted as arrangers and bookrunners for the transaction. The refinancing was supported by 28 international financial institutions, which have assessed very positively the company’s performance, its diversification, its solid prospects for the future and the diligence in its management.
Abengoa has now extended the maturity of its corporate debt by more than three years, which means there will be no significant maturities until 2014. The company has reserved the right to increase this financing by up to €300 million during the next 45 days.
Manuel Sánchez Ortega, CEO of Abengoa, said, “the closing of this refinancing, in particular under the current financial markets scenario, demonstrates there is solid support for Abengoa’s future. We are extremely pleased by the confidence that this milestone proves in the Company, as it will enables us to focus even more on continuing to implement our strategic plan over the next three years”.
More details about this transaction will be provided during Q1 2012 earnings presentation conference call which will be held on Friday, May 4 at 14:00 p.m. (Madrid time), 13:00 p.m. (London time), and 8:00 a.m. (New York time).
