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July

Abengoa informs of the decisions adopted by the Board of Directors

July 14, 2020

July 14, 2020 - Abengoa (MCE: ABG/P:SM), the international company that applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors, informs that, in connection with the communication of privileged information dated 30 June 2020 (register nº 309) by virtue of which the Company informed about the advances in the measures announced on 19 May to resolve the net equity situation of the Company, the Board of Directors held on the date hereof has approved the following decisions:

  • The Board of Directors has been informed of the advances of the negotiations of the different workstreams of the transaction, that is, the liquidity line of up to 250M€ backed by ICO, the agreement with suppliers and commercial creditors, the amendment of certain conditions of the debt with financial creditors NM2, reinstated Debt, A3T Convertible Bond and Old Money and the availability of bonding lines of up to 300M€, which continue to develop favorably having received relevant supports which are yet to be formalized with the final documentation.
  • In line with the above, after having received the relevant internal and external advice, the Board of Directors considers that, in the current circumstances, it must exhaust all available alternatives for the continuity of the business of the group.
  • In this sense, the Board of Directors would like to stress the fact that the lack of liquidity and bonding is severally affecting the business making very difficult its viability if the transaction is not closed in the short term.
  • The Board of Directors has agreed to make a final decision in a meeting to be held on 27 July.

About Abengoa

Abengoa (MCE: ABG/P:SM) applies innovative technology solutions for sustainability in the infrastructure, energy and water sectors. (www.abengoa.com)

Communication Department:

Marián Ariza

Tel: +34 954 93 71 11

E-mail: communication@abengoa.com

Investor Relations & Capital Markets:

Gonzalo Zubiría

Tel: +34 954 93 71 11

E-mail: ir@abengoa.com

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