Exploring Cardano: Inner Workings and Advantages of this Cryptocurrency
Seville.- Economy.- Innova.- STSA inaugurates its new painting and sealing hangar in San Pablo, for 18 million
Innova.- More than 300 volunteers join the Andalucía Compromiso Digital network in one month to facilitate access to ICT
Innova.-AMP.- Ayesa acquires 51% of Sadiel, which will create new technological engineering products and expand markets
The constitutionalist bloc with 53.38 percent of the votes and 74 seats wins over the independentist
Catalonia 2024 election results, municipality by municipality
Feijóo gives the 'sorpasso' to Vox in Catalonia and fulfills its objective of being the fourth force with a jump from 3 to 15 seats
Ten years since the murder of Isabel Carrasco, the crime that changed Leonese politics
How Blockchain in being used to shape the future
Not just BTC and ETH: Here Are Some More Interesting Coins Worth Focusing on
The CSN finances an IFIC project to evaluate a technology that improves nuclear waste management
Expociència expects to receive more than 4,000 visitors in the Science Park of the University of Valencia
They develop devices for the precise diagnosis of cancer patients
UMH researchers are working on a high-quality apricot crop that requires less irrigation water
A million people demonstrate in France against Macron's pension reform
Russia launches several missiles against "critical infrastructure" in the city of Zaporizhia
A "procession" remembers the dead of the Calabria shipwreck as bodies continue to wash up on the shore
Prison sentences handed down for three prominent Hong Kong pro-democracy activists
ETH continues to leave trading platforms, Ethereum balance on exchanges lowest in 3 years
Investors invest $450 million in Consensys, Ethereum incubator now valued at $7 billion
Alchemy Integrates Ethereum L2 Product Starknet to Enhance Web3 Scalability at a Price 100x Lower Than L1 Fees
Mining Report: Bitcoin's Electricity Consumption Declines by 25% in Q1 2022
Oil-to-Bitcoin Mining Firm Crusoe Energy Systems Raised $505 Million
Microbt reveals the latest Bitcoin mining rigs -- Machines produce up to 126 TH/s with custom 5nm chip design
Bitcoin's Mining Difficulty Hits a Lifetime High, With More Than 90% of BTC Supply Issued
The Biggest Movers are Near, EOS, and RUNE during Friday's Selloff
Global Markets Spooked by a Hawkish Fed and Covid, Stocks and Crypto Gain After Musk Buys Twitter
Bitso to offset carbon emissions from the Trading Platform's ERC20, ETH, and BTC Transactions
Draftkings Announces 2022 College Hoops NFT Selection for March Madness
MADRID, 25 May. (EUROPA PRESS) -
Abengoa has sent to the State Industrial Participation Company (SEPI) all the documentation and information required to obtain new financing for a total amount of 249 million euros charged to the Solvency Support Fund for Strategic Companies.
"The application for said SEPI Financing is still being processed, having submitted all the documentation and information required by SEPI", the Andalusian company stated in a statement sent to the National Securities Market Commission (CNMV).
Specifically, the SEPI Financing will be obtained by six subsidiaries of Abenewco 1, where the vast majority of the group's commercial activity is centralized.
Additionally, Abenewco I will receive a total of 200 million euros from TerraMar Capital, of which 140 million will be contributed in the form of a loan and 60 million in the form of capital, which will grant TerraMar 70% of the share capital of Abenewco I. , following the implementation of the conversions of the current convertible debt instruments.
Abenewco 1 will use the 60 million euros of capital for the repurchase of the 'New Money 2' debt, 'A3T Convertible Put Option' and 'Reinstated Debt'.
Abengoa has explained that the new financial operation to guarantee the stability and future of the group of companies in the perimeter of Abenewco 1 focuses on three parts: obtaining liquidity, obtaining guarantees, and changes in the capital structure through the implementation of the agreement of restructuring.
"Each part will advance in parallel and is subject to the completion of the others, in the sense that the operation cannot be completed if all the parts are not completed," the firm has specified.
Apart from obtaining guarantee lines, the second part of the operation contemplates obtaining a new 'New Bonding' guarantee line for a maximum amount of 300 million euros, together with the renewal and extension of the two lines of existing 'New Bonding' guarantees, to cover the needs of the Abenewco 1 group of companies for the implementation of its business plan until 2027.
As in the two existing lines, the new 'New Bonding' line will be granted by a group of financial institutions and will be covered by CESCE in this case for 60% of the risk in international guarantees.
Obtaining this line is pending approval by the financial institutions and CESCE.
Lastly, as explained by the firm, the operation contemplates changes in the capital structure through the implementation of the restructuring agreement, mainly through the conversion into capital of certain convertible debt instruments in force and subscribed in previous years, such as the 'Mandatory Convertible Abenewco 1', 'Senior Old Money' and 'Junior Old Money'.
Said instruments will be converted into shares of the issuing companies (Abenewco 1, Abenewco 2 bis and Abenewco 2, respectively).
As a result of said conversion, the creditors holding said instruments would become the full, direct or indirect holders of the capital of the issuing companies and the parent company Abengoa would be totally unrelated to Abenewco 1.
Immediately after the conversion of the instruments into shares, the capital increase will be carried out to be subscribed by TerraMar for 60 million, giving it control of 70% of the share capital of Abenewco 1 and diluting the rest of the new shareholders resulting after the conversion of the instruments. of convertible debt.
TerraMar's offer includes the possibility for Abengoa shareholders to participate in the investment jointly with TerraMar, sharing up to a maximum of 10% of their investment (viewed on the total investment of 200 million euros), under the same terms and conditions under which Terramar would make its contributions, and only if Abengoa shareholders can contribute a minimum of 5 million.
Additionally, the restructuring agreement contemplates certain economic rights in favor of Abengoa, payable after the return of the SEPI Financing, subject to the approval of a creditors' agreement.
