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TerraForm to pay down revolver debt with $150 million note offering
By Wendy Van Sickle
Columbus, Ohio, June 8 – TerraForm Power Operating, LLC will pay off some borrowings under its revolving credit facility with proceeds from a $150 million senior note offering.
In addition to proceeds from the 5 7/8% senior notes due 2023, the company will also use cash on hand to pay off borrowings under its revolver, according to a press release from its parent company, Terra Form Power, Inc.
Morgan Stanley & Co., Citigroup Global Markets, Barclays, J.P. Morgan Securities LLC and Macquarie Capital are the joint bookrunners in the note offering.
The clean power company is based in Bethesda, Md.
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