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The board of directors of Abengoa, headed by the president of the company, Gonzalo Urquijo, it has been given a new deadline of July 27 , to try to reach an agreement with its creditors to avoid liquidation due to bankruptcy.
As reported by the National Commission of the Market of Values (CNMV), the board has been informed that negotiations with the administrations and with financial creditors and trade “continue to develop favorably , having given support relevant pending to be materialized, with the final documentation”.
So, it points to the progress of negotiations on “the different pillars of the operation”, in particular of the credit line of 250 million euros with the guarantee of the ICO, the agreement with the suppliers and trade creditors, the modification of certain terms of the debt with the creditors, and the provision of a line of guarantees of up to 300 million euros.
This new postponement enfríó the expectations that had anticipated the financial markets for several days. The titles of Abengoa went up yesterday a 60% in the Bag , ahead of the success in the negotiations against the clock to reach an agreement, when the securities and exchange commission suspended before three in the afternoon, “cautiously and with immediate effect”, the contribution of Abengoa.