Daily News: October 18, 2017

HSBC Agents New $450MM Revolver for TerraForm Power


TerraForm Power (TERP), a renewable energy company based in Maryland, closed a $450 million revolving credit facility with HSBC USA as administrative agent and collateral agent.

According to a related 8-K filing, HSBC Bank Canada, Bank of Montreal, Bank of Nova Scotia, Natixis Securities Americas, RBC Capital Markets and Sumitomo Mitsui Banking served as joint lead arrangers and joint bookrunners. The new revolver will be used to refinance the existing revolver entered into by TERP Operating in January 2015 and for other general corporate purposes and working capital requirements.

The new revolver consists of a revolving credit facility in an initial amount of $450 million (available for revolving loans and letters of credit), which matures on the four-year anniversary of the closing date of the facility.