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Abengoa Teyma successfully completes its debt restructuring with the funding of a 45 MUSD senior secured

Abengoa (MCE: ABG/P:SM), the international company that applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors, is pleased to announce that it has completed the debt restructuring of its subsidiary in Uruguay, Abengoa Teyma, with the funding of a 45 MUSD senior secured, long term credit agreement with Newfoundland Capital Management.

The proceeds of the financing will be used to purchase all of the Company’s outstanding financial debt, as well as to provide new liquidity to Abengoa Teyma for the development of current and future projects in Uruguay.

Alejandro Fynn, CEO of Abengoa Teyma commented: “We are excited of having reached an agreement with Newfoundland Capital Management. The new debt will allow the company to have more operational flexibility to support our client base as we develop our backlog and bid on new upcoming construction projects.”

Daniel Simon, Portfolio Manager of Newfoundland Capital Management commented: “We believe the Company has tremendous leadership and a strong operational history, making this a great partnership for our new credit platform. Abengoa Teyma is one of the leading Uruguayan companies, not only in infrastructure but also in the fields of waste management, operation and maintenance and forestry services. “

Atlantico Capital Partners acted as exclusive financial advisor to Abengoa Teyma and Arranger of the facility, with Jones Day and Posadas, Posadas & Vecino acting as borrower’s New York and local counsels respectively. Clifford Chance and Estudio Olivera Abogados acted as New York and local counsels to the lender.

Source: http://www.abengoa.es/

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