Abengoa agrees to $1.3 billion bailout

In Spain, Abengoa has avoided the country’s largest-ever bankruptcy by coming to a deal with Centerbridge Partners LP, Elliott Management Corp. and Oaktree Capital Management LP in a $1.3 billion bailout who along with banks such as Santander will eventually own between 90% and 95% of the company. A teleconference with investors and analysts will be held Tuesday at 12pm EDT to detail the deal and could clarify if 75% of creditors had approved the deal as required by Spanish law.

Abengoa: The Digest’s 2015 5 Minute Guide