Wells Fargo Agents SunEdison Facility Amendment
SunEdison announced its credit facility’s overall cap was increased from $400 million to $800 million. The amendment reflects the banking community’s strong confidence in SunEdison and will allow additional banks to participate in the credit facility as SunEdison continues to grow its business.
The credit facility was originally entered into on February 28, 2014 with Wells Fargo Bank as administrative agent; Goldman Sachs Bank USA and Deutsche Bank Securities as joint lead arrangers and joint syndication agents; and Goldman Sachs Bank USA, Deutsche Bank Securities, Wells Fargo Securities and Macquarie Capital (USA) as joint bookrunners, and was amended on May 27, 2014 and June 4, 2014.
The credit facility was also amended to permit investments in (i) a subsidiary of the company formed for the purpose of owning subsidiaries that own and operate renewable energy systems, and (ii) wind, biomass, natural gas, hydroelectric, geothermal or other clean energy generation systems or hybrid energy generation systems.
Brian Wuebbels, chief financial officer of SunEdison, said, “These increases in our Credit Facility will enable SunEdison to capture additional business opportunities and continue our rapid volume growth.”
SunEdison manufactures solar technology, and develops, finances, installs and operates distributed solar power plants.