- Abengoa (ABGB +26.2%) rebounds from record lows after the Spanish renewable energy company sought to reassure investors about the degree of security offered on some of its debt.
- ABGB says its consolidated financial statements reflect all its outstanding debt, and that the green bonds are guaranteed by the company and have the same security as other recourse debt even if they’re classified as non-recourse.
- ABGB plunged last week after saying it accounted its $630M of high-yield green bonds as non-recourse debt, which typically does not allow creditors to seek claims directly from the company in case of default.