CIT Group served as the coordinating lead arranger on a $416 million debt financing supporting Longroad Energy’s 379-megawatt Prospero solar facility. Facebook will be the sole tax equity investor.
Facebook announced it entered into a revolving credit facility, which allows it to borrow up to $6.5 billion, with a lender group led by JPMorgan Chase, as administrative agent.
There are wonderful things to be said about Facebook, YouTube, Twitter and their many rivals. But, without careful management, they also have the potential to make a minor happenstance into a major problem, and a major problem into a life-threatening crisis. And that’s bad news for every business going through restructuring or reorganization, trying its darnedest to avoid those alternatives. The somewhat good news is that there are things a business can do to dodge some of the social media bullets.