RESTRUCTURING

摘要

Spanish renewable energy and engineering firm Abengoa has reached a long-awaited restructuring deal with its main creditors aimed at slashing debt and avoiding the country's biggest ever bankruptcy. The Seville-based company - which was tripped up by its large debt pile after borrowing heavily to fund its rapid expansion into clean energy - has been negotiating with lenders since last November. Once the restructuring deal is finalised, control of Abengoa will be transferred from its founding family, with about 90% of the ownership transferring to banks and bondholders. Some are existing creditors while a group of investors including Elliott Management and KKR Credit will put in fresh money.