Spain's Abengoa price €400 million seven-year bullet notes on Friday

By Paul A. Harris

Portland, Ore., March 20 - Spanish conglomerate Abengoa Finance SAU plans to price a €400 million offering of non-callable seven-year senior notes (expected ratings B2/B/B+) on Friday, according to a market source.

Global coordinator and bookrunner HSBC will bill and deliver. Deutsche Bank and Morgan Stanley are also global coordinators and bookrunners. Bankia, Credit Agricole CIB, Natixis, Santander and SG CIB are also bookrunners.

Proceeds from the Rule 144A and Regulation S deal will be used to refinance €300 million of senior notes maturing in 2015 and to prepay other corporate debt.

Seville, Spain-based Abengoa has operations in energy, telecommunications, transportation and the environment.

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