Abengoa Bioenergy secures loan
March 3, 2016 – Abengoa Bioenergy has secured an emergency bankruptcy loan that will allow the company to operate and pay wages while it attempts to reorganize.
According to a Reuters report, the company has received a $7 million loan to pay bills while it attempts to restructure its operation after filing for Chapter 11 bankruptcy last week.
The Spanish parent company of Abengoa Bioenergy, Abengoa SA, is faced with a debt structure of around $20 billion. The company has hired a former partner at KPMG to facilitate the debt restructuring process.
For more on this story, click here.