Abengoa gains consents for 5.125%, 6.25% convertibles, to hold second meeting for 4.5% convertibles

New York, Oct. 29 – Abengoa, SA said that it received the requested consents to amend its €400 million of 6.25% senior convertible notes due 2019 and $279 million of 5.125% exchangeable notes due 2017.

However it did not receive the necessary consents for the €250 million of 4.5% senior convertible notes due 2017 and will seek approval to make the changes at a second meeting, according to a notice from the company.

As announced on Sept. 29, consent instructions had to be delivered by 9 a.m. ET on Oct. 26. Meetings will be held at 3 a.m. ET on Oct. 29 for the 4.5% notes, at 3:30 a.m. ET on Oct. 29 for the 6.25% notes and at 4 a.m. ET on Oct. 29 for the 5.125% notes.

Holders of the 5.125% exchangeables and 6.25% convertibles passed the proposals.

However the changes will not become effective until the registration condition is satisfied and the company enters into the deeds of guarantee.

The meeting for the 4.5% convertibles did not achieve the required quorum of two-thirds of the principal amount of the notes. Abengoa said a second meeting will be convened.

As previously reported, the company is seeking to amend the note indentures in order to give the convertibles the same level of guarantees as the company’s high-yield notes.

Lucid Issuer Services Ltd. (44 20 7704 0880 or abengoa@lucid-is.com) is the tabulation agent.

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