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SunEdison gets $466 million term loan, $550 million revolver
By Susanna Moon
Chicago, May 12 – SunEdison, Inc. obtained a $466 million five-year senior secured term loan and $550 million four-year senior secured revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.
The company may request commitments be increased by up to $200 million for the revolver and $500 million for the term loan.
Interest will be Libor plus 425 basis points for the term loan and Libor plus 400 bps for the revolving loans.
Proceeds will be used for the acquisition and construction of utility-scale solar and wind projects.
Bank of America, NA is the administrative agent and collateral agent. OneWest Bank, NA is the depositary.
The term loan matures May 6, 2020, and the revolver matures May 6, 2019.
Maryland Heights, Mo.-based SunEdison makes solar technology and develops, finances, installs and operates distributed solar power plants.
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