SunEdison and its creditors have modified the terms of its debtor-in-possession agreement to accommodate an additional $300 million in financing, according to a disclosure to financial regulators.
The company first reported bankruptcy court approval of the new loan last Friday, which it says will allow it to support its operations, minimize disruption to projects and partnerships and make necessary operational changes.
The new loan modifies SunEdisons debtor-in-possession agreement in multiple aspects, including a reduction in the interest rate of the companys Tranche A-1 Roll-Up Loans from 8% to 3.75% for Eurocurrency rate loans and 7% to 2.75% for base rate loans.
The new Tranche 2 Roll-Up loans will receive the original rate for Tranche A-1 at 7-8%. In the revised debtor-in-possession agreement Deutsch Bank, Morgan Stanley, Goldman Sachs, Barclays have been revealed as the largest lenders in the first tranche of loans.
The new loan comes during reports that Adani Group is considering purchase of some of SunEdisons solar assets in India.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Popular content
Share
1 comment
Leave a Reply
Please be mindful of our community standards.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.
Great about SunEdison.