Renewable energy development company SunEdison and TerraForm Power, an owner and operator of clean energy power plants, announced the successful syndication of the $280 million 7-year term loan facility of TerraForm Private Warehouse.

SunEdison said Morgan Stanley, Citi and Goldman Sachs acted as joint lead arrangers on the term loan facility.

TerraForm Private Warehouse is $525 million in aggregate size, with equity provided by leading infrastructure investors Macquarie Capital and John Hancock, and by TerraForm Power’s sponsor, SunEdison.

The offering was oversubscribed and was ultimately placed with a diverse group of leading institutional investors. The term loan will bear interest at a rate of LIBOR (subject to a 1.0% floor) plus 4.0%, in line with the initial guidance to the market.

SunEdison is a renewable energy development company.