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Linklaters advises Abengoa S.A. on its global financial restructuring  

24 April 2017

Linklaters has advised the Spanish renewable energy company Abengoa, S.A. on the largest ever restructuring by a Spanish corporate, and one of the largest and most complex global financial restructurings to date.

Linklaters acted as lead company counsel on the implementation of a global restructuring involving the reduction of pre-restructuring old money group corporate debt from approximately €8.9 billion to approximately €2.6 billion. In addition, new money funding totalling c.€1.1billion was advanced (partly by a rollover by existing secured creditors of their existing secured debt) and new bonding lines totalling c.€320m were made available.

The restructuring involved approximately 9,000 creditors and comprised a number of inter-dependent restructuring processes in various jurisdictions, including a Spanish Homologación, U.S. Chapter 11 proceedings, an English law company voluntary arrangement (CVA) and U.S. Chapter 15 proceedings in respect of the Homologación and the CVA.

Linklaters’ team was led by partners Federico Briano, Pedro de Rojas and Ben Crosse in Madrid, Rebecca Jarvis in London and Counsel Melinda Perera in Luxembourg.

For further information please contact the PR team.

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