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Abengoa SA (ABGB)

  • Fri, Jan. 9, 3:58 PM
    • Abengoa (ABGB +4.5%) says it was chosen by Mexico's Federal Electricity Commission to carry out the Norte III project, consisting of a 924 MW combined cycle plant in Ciudad Juárez.
    • ABGB says the contract, worth $1.55B, includes engineering, design and construction of the plant as well as 25 years of operation and maintenance.
    • Shares already were rallying after CEO Manuel Sanchez Ortega said the  company would meet its substantial debt repayments next month, but some traders see little more than a short squeeze playing out.
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  • Tue, Jan. 6, 8:49 AM
    • Abengoa (NASDAQ:ABGB) +9.3% premarket after EIG Global Energy Partners agrees to jointly invest in the development of ABGB's projects under construction.
    • ABGB says the portfolio of projects includes conventional generation and renewable energy assets and transmission lines in the U.S., Mexico, Brazil and Chile for a total investment amount above $9.5B.
    • EIG will hold a majority stake in the new company; the companies hope to execute a binding agreement by the end of January.
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  • Nov. 17, 2014, 10:49 AM
    • 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.
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  • Nov. 14, 2014, 5:38 PM
    • Top gainers, as of 5:15 p.m.: CLDX +9.3%. TSRO +5.2%. SSE +3.3%. DDD +1.9%. CIG +1.7%.
    • Top losers, as of 5:15 p.m.: ABGB -4.3%. HK -2.3%. BVN -2.2%. NTES -1.9%. SCMP -1.9%.
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  • Nov. 14, 2014, 3:47 PM
    • Abengoa (ABGB -40%) shares plunge to all-time lows following comments made on the Spanish renewable energy company's Q3 results that triggered renewed concerns about its debt.
    • On Wednesday, the company said that debt raised by its new Abengoa Greenfield subsidiary created to finance the early stages of projects would not be included in the corporate debt figures, after ABGB had guaranteed it.
    • The stock has shed more than two-thirds of its value over two days, wiping out ~€1.6B ($2B) in market cap.
  • Sep. 22, 2014, 3:59 PM
    • Spanish energy company Abengoa (ABGB +1.9%) says it sold its first power plants to Abengoa Yield (ABY -3.8%), the company it spun off in June, for $323M.
    • The sale includes two solar facilities in Spain with a total 131MW and a 50 MW wind farm in Uruguay.
    • ABY expects to own 710 MW of renewable and 300 MW of conventional generation, as well as 1K-plus miles of power transmission lines, it said in its June filing.
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Company Description
Abengoa SA is engineering & clean technology company, engaged in applying solutions for development in the infrastructure, environment & energy sectors. It operates in engineering & construction, concession-type infrastructures & industrial production.
Country: Spain