Abengoa pays 18% on its debt; m & aacute; s Greece, & iquest; qu & eacute; est & aacute; happening? – EntornoInteligente

18% Abengoa pays on its debt; more than Greece, what is going on? / Cinco Dias / Abengoa continues in the eye of the hurricane. The group of engineering and renewable energies announced additional divestments of 100 million euros and a capital increase of 650. Doubts about its liquidity triggered the interest of his five-year debt to 18% from just over 13%, and shares plunge 30%. What the market demands by Abengoa debt exceeds what is required from the Greek debt at the same time, you pay 16%.

The shake Abengoa continue. Doubts ripped July 23, when the new CEO of the company, Santiago Seage, held a conference with analysts in Madrid. It was a coming-out of the management convened with a notice of six weeks, after Seage replaced in mid-May to Manuel Sanchez Ortega. This had to face several problems on the computation of the debt of the company in November 2014.

Two weeks ago now, insurance company default (CDS) soared, the company was forced to convene a conference analyst with the excuse to advance the results of the first half but with the intention of calming the market. Rather, the words of the CEO sparked more doubts about liquidity.

From the outset, recognized that box 3.000 million was not so, because the money was blocked by payments to suppliers and other commitments. Subsequently, company sources materialize the available cash position was about 1,300 million. Seage also warned that a bond sold in April would not be used immediately to repay debt, as planned in the beginning, although he announced that repayment would occur before year end.

B ABENGOA -29.751 1.438%

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