Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain's Abengoa gets creditor backing for standstill

Source: Reuters - Mon 28th Mar 2016
Spain's Abengoa gets creditor backing for standstill

Spain's Abengoa said on Monday it had obtained backing from 75% of its creditors for a seven-month standstill agreement, which it filed to a court in Seville as it seeks more time to restructure its debt.

The standstill agreement prevents creditors from demanding pre-payment and is aimed at giving the struggling renewable energy and engineering firm some breathing space after a legal period protecting it from lenders expires on Monday.

Abengoa is trying to restructure a 9.4 billion-euro debt load and needs backing from 75% of creditors for a plan to slash its borrowings and gives banks and bondholders equity in return.

It needed at least 60% of lenders to back the standstill in order to enforce it.

Recommended Reading :

* Creditors agree to Spain's largest ever Bankruptcy

* Spain court to probe claims against Abengoa Chairman

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs

When shopping for bodyjewelrytips, never buy anything that has nickel. The best type of material is the steel, titanium, wood, anodized gold or gold. Most nickel products will rust and may infect your ear. If you have pierced the naval or eye, you do not need to worry, as that is the most versatile part of the body. You can wear rings, straight, curved or fancy and captive beads. There are many leading body piercing jewelry that offer some of the biggest collection at very affordable price. In regard to shopping, always go to a wholesale shape as that is the sure place of getting any type of body piercing jewelry. The only thing that you need to be careful about is the material used to make the jewelry. There are instances when body piercing might go wrong and the result is an infection. In order to avoid this, make sure that the person doing the piercing is qualified to do so. After piercing is done Bodys piercing trends, you should keep the area sterilized and clean. Use warm water to wipe dirt. Never use spirits as they will corrode the area resulting to a wound which might cause an infection.