MEXICO CITY Dec 10 The Mexican unit of struggling Spanish company Abengoa said on Thursday it will default on coupon payments for two issues of short term tradeable certificates.
In a brief statement, the engineering and renewable energy group said it would default on coupons for the 00315 and 00415 issues of its so-called certificados bursatiles. It did not divulge the sum of money involved, or when they had been due for payment.
Abengoa, trying to avoid becoming Spain's biggest-ever bankruptcy, is negotiating a multi-million-euro lifeline with creditor banks which have asked the company to guarantee it with assets.
Abengoa and creditor banks agreed on Thursday to put on hold an option of selling shares in its Abengoa Yield business as a means of raising money, two banking sources briefed on the talks said. (Reporting by Mexico City Newsroom; Editing by Dave Graham)
.