Abengoa : Teyma successfully completes its Debt Restructuring

Abengoa Teyma successfully completes its Debt Restructuring

December 20, 2018

• The subsidiary of Abengoa in Uruguay, Abengoa Teyma, has signed a long-term credit agreement of 45 MUSD.

December 20th, 2018 - Abengoa (MCE: ABG/P:SM), the international company that applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors, is pleased to announce that it has completed the debt restructuring of its subsidiary in Uruguay, Abengoa Teyma, with the funding of a 45 MUSD senior secured, long term credit agreement with Newfoundland Capital Management.

The proceeds of the financing will be used to purchase all of the Company's outstanding financial debt, as well as to provide new liquidity to Abengoa Teyma for the development of current and future projects in Uruguay.

Alejandro Fynn, CEO of Abengoa Teyma commented: 'We are excited of having reached an agreement with Newfoundland Capital Management. The new debt will allow the company to have more operational flexibility to support our client base as we develop our backlog and bid on new upcoming construction projects.'

Daniel Simon, Portfolio Manager of Newfoundland Capital Management commented: 'We believe the Company has tremendous leadership and a strong operational history, making this a great partnership for our new credit platform. Abengoa Teyma is one of the leading Uruguayan companies, not only in infrastructure but also in the fields of waste management, operation and maintenance and forestry services. '

Atlantico Capital Partners acted as exclusive financial advisor to Abengoa Teyma and Arranger of the facility, with Jones Day and Posadas, Posadas & Vecino acting as borrower's New York and local counsels respectively. Clifford Chance and Estudio Olivera Abogados acted as New York and local counsels to the lender.

About Abengoa

Abengoa (MCE: ABG/P:SM) applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors. (www.abengoa.com)

About Abengoa Teyma

Abengoa Teyma is one of the largest companies in Uruguay in the field of engineering, construction and industrial services. Founded in 1980 and with an annual average of over 2.000 employees in the last 10 years, the company also has active participation in the service sector for the forestry sector, waste management, operations and maintenance activities and infrastructure concessions in Uruguay.

About Newfoundland Capital Management

Founded in 2009, Newfoundland Capital Management ('NCM') is a Securities and Exchange Commission (SEC) registered Investment Manager, managing over US$ 800 million across several strategies in Latin America. By adhering to a strict investment philosophy that focuses on capital preservation, NCM seeks to generate absolute returns with low correlation to the performance of developed and emerging market indices. NCM recently launched a new vertical dedicated to private credit transactions in the region.

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