Solar energy spinoff Abengoa Yield sets terms for $601 million IPO

June 2, 2014 by  
Filed under Green Energy News

Abengoa Yield, a solar and electricity transmission yieldco
spun out of Spanish energy company Abengoa, announced terms for
its IPO on Monday. The Brentford, United Kingdom-based company
plans to raise $601 million by offering 23.1 million shares at a
price range of $25 to $27. At the midpoint of the proposed range,
it would command a fully diluted market value of $2.1 billion.

Abengoa Yield, which was formed in 2013 and booked $242 million
in sales for the 12 months ended March 31, 2014, plans to list on
the NASDAQ under the symbol ABY. It initially filed
confidentially on February 28, 2014. Citi, BofA Merrill Lynch,
Canaccord Genuity, HSBC, RBC Capital Markets and Banco Santander
are the joint bookrunners on the deal. It is expected to price
the week of June 9, 2014.

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