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Creditors agree to Spain's largest ever Bankruptcy

Source: Reuters - Thu 24th Dec 2015
Creditors agree to Spain's largest ever Bankruptcy

Spanish thermal solar power and electrical engineering firm Abengoa signed an agreement with its creditor banks on Thursday for a 106- million-euro ($116.1 million) credit line to help avert what would be Spain's biggest-ever bankruptcy.

The loan will be used for general corporate necessities, Abengoa said in a statement to the stock market regulator.

It is using some shares held in the affiliate Abengoa Yield as collateral for the loan, it said.

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