Abengoa holders give consents for 4.5% convertibles at second meeting

By Susanna Moon

Chicago, Dec. 1 – Abengoa, SA said holders voted to amend its €250 million of 4.5% senior convertible notes due 2017 at a meeting held Monday in Spain.

The measure passed on second call, but the changes will not become effective until the registration condition is satisfied and the company enters into the deeds of guarantee, according to a company notice.

As announced Oct. 29, the second meeting was called because the October meeting held for the 4.5% convertibles failed to achieve the required quorum of two-thirds of the principal amount of the notes.

At the time, Abengoa received the needed consents to amend its €400 million of 6.25% senior convertible notes due 2019 and $279 million of 5.125% exchangeable notes due 2017.

As announced on Sept. 29, consent instructions had to be delivered by 9 a.m. ET on Oct. 26, and the meetings were held Oct. 29.

As previously reported, the company sought 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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