TerraForm Power to pay down term loans with senior notes proceeds

By Sara Rosenberg

New York, Jan. 16 – TerraForm Power Operating LLC plans to refinance its existing term loans using proceeds from an $800 million senior notes offering, according to a market source.

Remaining proceeds will be used to partially fund the $2.4 billion purchase price and recapitalization of First Wind Holdings Inc.

TerraForm is a Beltsville, Md.-based clean power generation company. First Wind is a Boston-based renewable energy company.

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