July 8, 2016 / 2:32 AM / 2 years ago

Abengoa Mexico says it won't make interest payments due on bond issues

MEXICO CITY, July 7 (Reuters) - The Mexican unit of Abengoa SA, a troubled Spanish renewable energy firm, said on Thursday it would not make interest payments due on two short-term bond issues in the Mexican market.

Abengoa Mexico did not provide details on how much it must pay on the two bonds.

In April, Abengoa said a court ordered its Mexican assets seized as a precaution, while the company negotiates with bondholders over missed interest payments and a restructuring.

Abengoa, which is seeking to avoid becoming Spain’s biggest-ever bankruptcy, did not specify which assets would be seized. The firm’s Mexican unit has missed a series of coupon payments over recent months.

Reporting by Gabriel Stargardter; Editing by Kenneth Maxwell

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