Spain's Abengoa is seen winning more time for talks aimed at avoiding bankruptcy as more creditors have agreed to back debt restructuring plan and inject new emergency liquidity, Reuters reported yesterday. The engineering and energy company, struggling with a 9.4-billion-euro ($10.6 billion) debt pile, is in pre-insolvency talks with lenders and has until March 28 to win their backing and avoid becoming Spain's largest ever bankruptcy. Sources said that more than 60 percent of the firm's creditors were now expected to sign off on the debt agreement by next Monday while Abengoa said yesterday that it would receive a new credit line of 137 million euros from creditors.
