SunEdison And Yieldco Price IPO And Make Private Offering Of $810 Million In Green Bonds

Posted by SI Staff on August 03, 2015 No Comments
Categories : New & Noteworthy

SunEdison Inc. says TerraForm Global Inc., the yieldco subsidiary of SunEdison, has issued an underwritten initial public offering (IPO) of 45,000,000 shares of its Class A common stock at a price to the public of $15.00 per share, representing gross proceeds of $675 million.

At the same time, TerraForm Global says its wholly owned indirect subsidiary, TerraForm Global Operating LLC, has made a private $810 million offering of ‘green bond’ senior notes.

The TerraForm Global public shares will trade on the NASDAQ Global Select Market under the ticker symbol, ‘GLBL.’

The 9.75% green bonds, due in 2022, are exempt from the registration requirements of the Securities Act of 1933. The closing of the offering is expected to occur on Aug. 5, subject to certain closing conditions.

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