SunEdison Plans To Refinance With Private Securities Transactions


SunEdison Inc. intends to offer $400 million of convertible senior notes, due 2018, and $400 million of convertible senior notes, due 2021, in a private placement. The notes will be offered by the initial purchasers only to qualified institutional buyers. The company also intends to grant the initial buyers a 30-day option to purchase an additional $80 million aggregate of each series of notes on the same terms and conditions.

SunEdison says it intends to use the proceeds of the offering to redeem all $550 million outstanding aggregate principal amount of its 7.75% senior notes due 2019, repay all amounts borrowed under its $200 million second lien term loan with a current interest rate of 10.75%, and fund the cost of planned convertible note hedge transactions.

SunEdison says the notes, and any shares of the company's common stock issuable upon conversion of the notes, have not been and will not be registered under the U.S. Securities Act, or any state securities law, and may not be offered or sold in the U.S., except where allowable under law.

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