Abengoa to get 165 mln euro credit line as part of capital hike deal-source

(Reuters)Spain's Abengoa will get a 165 million euro ($184.44 million) credit line as part of a financing package in which banks HSBC and Santander will each underwrite 220 million euros of a capital increase and Credit Agricole the remainder, a source involved in the financing said on Wednesday.

A US fund and other institutions are also committed to subscribe part of the capital hike. The plan to put the company back on track also involves asset sales, the source said.

The Seville-based engineering and renewable energy firm, which has biofuel and solar thermal plants in the United States, has been struggling for a year with high debts and low cash but the situation became unsustainable in July.

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