Abengoa sets second call meeting for €500 million 8½% notes due 2016

By Susanna Moon

Chicago, Oct. 28 – Abengoa, SA scheduled the adjourned meeting for Nov. 28 in Madrid, Spain, to approve amendments to its €500 million 8½% notes due 2016.

As announced Oct. 27, the company secured the needed votes to amend its €400 million 6.25% senior convertible notes due 2019 at the meeting held Thursday in Madrid but lacked quorum for the meetings for its €250 million 4.5% senior convertible notes due 2017 and its 8½% notes.

The consent solicitation ended at 11 a.m. ET on Oct. 24. Holders needed to be of record as of 11 a.m. ET on Oct. 22.

The company said on Sept. 27 that it was soliciting consents related to the agreement reached by Abengoa with its main creditors announced on Sept. 24 for the purposes of facilitating the implementation of that agreement.

Specifically, Abengoa was soliciting consents to change the governing law and jurisdiction for the notes to Spanish law and the courts of the city of Madrid, from English law and the courts of England, respectively.

The tabulation agent is Lucid Issuer Services Ltd. (+44 (0) 20 7704 0880, Paul Kamminga or Victor Parzyjagla, or abengoa@lucid-is.com).

As reported Oct. 17, Abengoa also failed to pay the amount due in September on its €500 million of 6% senior notes due 2021.

Abengoa is an industrial and technology group based in Seville, Spain. It filed bankruptcy on March 28, 2016 in the U.S. Bankruptcy Court for the District of Delaware under Chapter 15 case number 16-10754.

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