The funds from the transaction will be used to pay off $950 million in notes due in 2023.
The yieldco is planning to replace $950 million in bonds due 2023 with $1 billion due up to 10 years from now, as its second major move this month to restructure its finances.
The company stands to make a pretty penny by getting out of TerraForm Power.
On the heels of its acquisition by Brookfield, the yieldco is putting its financial house in order.
Settlement of securities lawsuits is the final step before the Canadian asset manager can consummate the acquisition of the second of SunEdison’s former yieldcos.
Fresh on the heels of its the close of its acquisition by Brookfield, the yieldco is seeking to restructure its debt.
The Canadian asset manager has officially taken over one of SunEdison’s yieldcos, as TerraForm Global sets a date for a shareholder vote on its acquisition.
The pioneering solar & wind yieldco will be majority owned by Brookfield on October 16, and a shareholder vote for fellow yieldco TerraForm Global appears to be underway.
The second of SunEdison’s two yieldcos is putting all of its ducks in a row as both companies prepare to be bought by the Canadian asset manager.
With the sale the yieldco has almost completely divested from the United Kingdom, as its acquisition by Brookfield grinds forward.
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