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April

Abengoa successfully extends its syndicated financing

April 22, 2010

  • The amount exceeds €1.57 billion.
  • Some 52 national and international financial institutions participated in the financing.

Madrid, 22 April 2010. Abengoa has today signed the agreement to extend its long term syndicated bank financing worth more than €1.57 billion, higher than the initial target amount. The deal involved 52 national and international financial institutions led by Banco Santander, Societé Générale, Caja Madrid, Citibank, Deutsche Bank and Natixis as joint arrangers.

The financing was structured as a forward start facility (an extension of the maturity of the debt). The new maturities are between 20 July 2012 and 20 July 2013.

Given the current complexity of the market, “the signing of the extension of the financing has been a resounding success and highlights the confidence that a large number of national and international institutions have in the company” said Abengoa CFO, Amando Sánchez Falcón.

In the last few months, Abengoa has successfully raised €1.25 billion in the capital markets through four separate issues. This, together with the deal signed today, “gives us greater financial flexibility, enabling us to diversify our sources of financing as well as considerably extending the average maturity of our debt”, said Amando Sánchez Falcón.

Abengoa is a technology company that applies innovative solutions to sustainable development in the infrastructures, environment and energy sectors. It is a public listed company with a market capitalisation in excess of €1.93 billion (22/04/2009) and its five business groups are present in more than seventy countries: Solar Power, Bioenergy, Environmental Services, Information Technology, and Industrial Engineering and Construction. (www.abengoa.com).

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