WSJ: SunEdison Said to Be Preparing to File Bankruptcy
The Wall Street Journal reported that solar energy company SunEdison is preparing to file bankruptcy. SunEdison is also the subject of an SEC probe.
The Wall Street Journal reported that solar energy company SunEdison is preparing to file bankruptcy. SunEdison is also the subject of an SEC probe.
SunEdison and Vivint Solar agreed to amend their merger agreement. A Blackstone-sponsored vehicle will become a key stakeholder, and committed to provide a $250 million credit facility. Goldman Sachs, Barclays, Citigroup and UBS will provide a $300 million term loan.
SunEdison and West Street Infrastructure Partners III announced the formation of a new $1 billion warehouse investment vehicle, the WSIP Warehouse, to fund construction costs and to acquire operating assets.
SunEdison entered into a joint venture with power firm Dominion for the Four Brothers solar project in Utah. Deutsche Bank will provide a $150 million term loan to support SunEdison investment in the JV.
SunEdison and TerraForm Power announced the successful syndication of the $280 million term loan facility of TerraForm Private Warehouse.
SunEdison announced its credit facility’s overall cap was increased from $400 million to $800 million. The credit facility was originally entered into on February 28, 2014 with Wells Fargo Bank as administrative agent.
Heritage Global Partners announced it retained by MEMC Electronic Materials SpA, a SunEdison Semiconductor company, to secure an enterprise buyer for the entirety of its proven polysilicon production processes in Merano, Italy.
SunEdison closed the first $150 million of a $300 million three-year project finance revolving credit facility arranged by Deutsche Bank Securities.
SunEdison said De Lage Landen has increased its investment to more than $100 million in a sale-leaseback fund.