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Notice to holders of the bonds issued by Abengoa S.A., Abengoa Finance S.A.U. and Abengoa Greenfield S.A. (the “Notes”)
13 February 2016,
We refer to the public call for Noteholders organized by Houlihan Lokey, in its capacity as advisors to the Ad Hoc Committee of Noteholders (the “Committee”) on Monday 8 February 2016 at 16:00 UK time in relation to the on-going discussions between Abengoa S.A. (the “Company”) and its creditors about the Company’s financial situation.
During the call, we informed Noteholders that the Company’s management and Alvarez & Marsal had given a presentation of the Company’s Viability Plan last week to Houlihan Lokey and KPMG (advisors to a group of banks, or the “G7”). We also informed the Noteholders about the Company’s intention to make a summary of the Viability Plan available to all Noteholders imminently which would form the basis for a restructuring plan for the Company’s capital structure.
The purpose of this statement is to give Noteholders an update on our conversations with the Company in relation to the timing of the release of the Viability Plan. The Company has reassured Houlihan Lokey that the Viability Plan will be released on the evening of Tuesday, 16 February 2016. As mentioned in our call, the Company would like to organize a call for the benefit of Noteholders shortly after such release on Wednesday, 17 February 2016 so as to give the management and Alvarez & Marsal’s commentary on the summary Viability Plan. As soon as Houlihan Lokey has more information on the precise timing and dial-in details of the call, we will inform Noteholders immediately.
During the call, we also informed Noteholders that we expected Lazard (advisors to the Company) to share this week a restructuring proposal with Houlihan Lokey and KPMG. We can confirm that a restructuring proposal has been delivered to Houlihan Lokey and KPMG and we are now in the process of assessing the proposal as well as potential restructuring alternatives. In this regard, we expect to offer an update on the ongoing restructuring negotiations to all the Noteholders next week or the week after (most likely by means of a public call, the details of which shall be made available as soon as possible).
Houlihan Lokey continues to encourage holders of the Notes to identify themselves to Houlihan Lokey directly by emailing their contact details to [email protected]. This information will be kept confidential by the Advisers and is critical in helping the Advisers in assessing the achievability of various thresholds when seeking consent for a restructuring proposal in an expedited way.
Notice to holders of the bonds issued by Abengoa S.A., Abengoa Finance S.A.U. and Abengoa Greenfield S.A. (the “Notes”)
13 February 2016,
We refer to the public call for Noteholders organized by Houlihan Lokey, in its capacity as advisors to the Ad Hoc Committee of Noteholders (the “Committee”) on Monday 8 February 2016 at 16:00 UK time in relation to the on-going discussions between Abengoa S.A. (the “Company”) and its creditors about the Company’s financial situation.
During the call, we informed Noteholders that the Company’s management and Alvarez & Marsal had given a presentation of the Company’s Viability Plan last week to Houlihan Lokey and KPMG (advisors to a group of banks, or the “G7”). We also informed the Noteholders about the Company’s intention to make a summary of the Viability Plan available to all Noteholders imminently which would form the basis for a restructuring plan for the Company’s capital structure.
The purpose of this statement is to give Noteholders an update on our conversations with the Company in relation to the timing of the release of the Viability Plan. The Company has reassured Houlihan Lokey that the Viability Plan will be released on the evening of Tuesday, 16 February 2016. As mentioned in our call, the Company would like to organize a call for the benefit of Noteholders shortly after such release on Wednesday, 17 February 2016 so as to give the management and Alvarez & Marsal’s commentary on the summary Viability Plan. As soon as Houlihan Lokey has more information on the precise timing and dial-in details of the call, we will inform Noteholders immediately.
During the call, we also informed Noteholders that we expected Lazard (advisors to the Company) to share this week a restructuring proposal with Houlihan Lokey and KPMG. We can confirm that a restructuring proposal has been delivered to Houlihan Lokey and KPMG and we are now in the process of assessing the proposal as well as potential restructuring alternatives. In this regard, we expect to offer an update on the ongoing restructuring negotiations to all the Noteholders next week or the week after (most likely by means of a public call, the details of which shall be made available as soon as possible).
Houlihan Lokey continues to encourage holders of the Notes to identify themselves to Houlihan Lokey directly by emailing their contact details to [email protected]. This information will be kept confidential by the Advisers and is critical in helping the Advisers in assessing the achievability of various thresholds when seeking consent for a restructuring proposal in an expedited way.
