Abengoa SAs management is reviewing the terms of a debt restructuring presented by creditors in a bid to avoid insolvency, according to a person with knowledge of the matter.
The renewable energy companys chief executive officer and chairman are discussing the proposal with their advisers on Wednesday, said the person, who asked not to be identified because the discussions are private. Bondholders and bank lenders agreed a plan in principle to overhaul the companys 9.4 billion euros ($10.3 billion) of gross borrowings in exchange for control of 95 percent of the restructured company, other people familiar with the proposal said.
Abengoa has to reach an agreement with creditors by March 28 and present a restructuring plan to a court in Spa…
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