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SunEdison Inc (WFR.BE)

WFR.BE on Berlin Stock Exchange

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2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Sunedison responds to claims and allegations made by Terraform Power and Terraform Global
Monday, 3 Oct 2016 04:45pm EDT 

Sunedison Inc : "Sunedison disagrees with many of statements, claims and allegations made by Yieldcos in their press releases" . No date has been established yet in bankruptcy cases for objecting to proofs of claims . Sunedison, Inc. Responds to claims and allegations made by Terraform Power, Inc., and Terraform Global, Inc. . Sunedison confirms that settlement discussions with Yieldcos have commenced . Settlement discussions relate to alleged claims asserted by Yieldcos, claims that Sunedison Estate is reviewing,may assert against yieldcos . "will evaluate proposed transactions based on value they deliver to Sunedison's bankruptcy estate" .Anticipated that ultimately there will be resolution of dispute regarding claims alleged by Yieldcos,claims that co holds against yieldcos.  Full Article

Terraform Global says consents to sale of SunEdison India assets
Tuesday, 27 Sep 2016 04:15pm EDT 

Terraform Global Inc : Has agreed not to pursue claims against a third-party buyer relating in any way to assets included in third party sale transaction . Terraform global inc says company has retained all of its claims against sunedison and its affiliated persons . Co agreed not to pursue claims against a third-party buyer relating in any way to assets included in third party sale transaction . Pursuant to proceeds sharing arrangement co entitled to get portion of cash proceeds received by sunedison parties from tuesday's deal . Company does not expect proceeds from tuesday's deal to exceed $10 million . Terraform global consents to sale of sunedison india assets . Third party sale includes 425 mw india portfolio of solar energy projects for which company made a prepayment to sunedison in q4 of 2015 . Third party sale transaction also includes bora bora project in india and certain assets in uruguay .Co, certain subsidiaries of sunedison that directly or indirectly own assets involved in deal entered proceeds sharing arrangement.  Full Article

Socore Energy to buy 22 Minnesota solar projects from SunEdison
Monday, 26 Sep 2016 01:58pm EDT 

Socore Energy: Socore Energy to acquire 22 Minnesota solar projects from Sunedison . Total price of up to $79.8 million . To acquire equity interests in 22 community solar garden development projects in Minnesota as part of Sunedison bankruptcy proceedings .Targeting completion of 22 Minnesota projects development, construction in 2017 using third-party tax equity, debt financing.  Full Article

Sunedison announces credit agreement amendment - SEC filing
Tuesday, 16 Aug 2016 06:12am EDT 

Sunedison Inc [SUNEQ.PK] : Got certain amendments to certain senior secured superpriority debtor-in-possession credit agreement, dated as of April 26, 2016 - SEC filing . DIP amendment modifies certain provisions in dip credit agreement relating to some milestones relating to co's restructuring efforts . DIP amendment modifies certain provisions in dip credit agreement relating to intercompany loans and restricted payments . DIP amendment also modifies certain provisions relating to asset sales . In connection with DIP amendment, requisite dip lenders also approved an updated 13-week budget .Also finalized certain amendments to indenture, dated jan 11, 2016 for existing outstanding 5% guaranteed convertible senior secured notes due 2018.  Full Article

Sunedison Inc files for non-timely 10-Q
Friday, 12 Aug 2016 05:44pm EDT 

Sunedison Inc : Files for non-timely 10-q with u.s. Sec - SEC filing . Complexity of completing the form 10-K, the Q1 form 10-Q and the form 10-Q has increased substantially compared to the prior periods . Delay in filing form 10-Q primarily due to inability to file form 10-K for FY ended 2015, form 10-q for quarter ended march 31, 2016 .Does not anticipate being able to file the form 10-Q within the 5 calendar day period set forth in rule 12b-25.  Full Article

Terraform Power files non timely 10-Q
Wednesday, 10 Aug 2016 04:07pm EDT 

Terraform Power Inc : Delay in filing 10-Q due to need to complete steps,tasks necessary to finalize co’s financial statements,other disclosures . Sees results for quarter ended June 30 to be different due to increase by 1.1 gw of co’s fleet of renewable energy facilities from June 30 2015 . Sees results for quarter ended June 30 to be different due to increased expenses, in particular costs of external advisors . Files non timely 10-Q . Expects results of its operations for the fiscal quarter ended June 30, 2016 to be different from the corresponding period in 2015 Source: (http://bit.ly/2b4H8dZ ) Further company coverage: [TERP.O] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Terraform Power received letter from Sunedison to terminate interest payment agreement
Wednesday, 3 Aug 2016 05:14pm EDT 

Terraform Power Inc : Received a letter from Sunedison purporting to terminate interest payment agreement dated as of July 23, 2014 . Agreement was entered into as part of a suite of contemporaneous documents comprising Sunedison's sponsorship of Terraform Power . Sunedison agreed to pay amounts equal to portion of each interest payment on Terraform Power Operating LLC's senior notes due 2023,2025 .Sunedison agreed to pay amounts with 1st interest payment on Aug 1, 2015, continuing through scheduled interest payment on Aug 1, 2017.  Full Article

Terraform Global received a letter from SunEdison to terminate interest payment agreement
Wednesday, 3 Aug 2016 05:02pm EDT 

Terraform Global : Received a letter from SunEdison purporting to terminate interest payment agreement dated as of August 5, 2015 .Terraform Global inc says contests the purported termination of the agreement and believes that the termination letter is "invalid"- SEC filing.  Full Article

SunEdison explores possible monetization of its class B shares in publicly traded yieldcos
Monday, 25 Jul 2016 06:44am EDT 

Sunedison Inc: SunEdison to explore possible monetization of its class b shares in publicly traded yieldcos ."Initiative will be conducted through a jointly managed sales process and accompanying marketing protocol".  Full Article

TerraForm Power adopts stockholder protection rights agreement
Monday, 25 Jul 2016 06:30am EDT 

TerraForm Power Inc: TerraForm Power Inc announces adoption of stockholder protection rights agreement . Record date to determine which stockholders are entitled to receive rights is August 4, 2016. . Board of directors declared a dividend of one right on each outstanding share of company's class A common stock . Rights agreement was adopted in response to potential sale of a significant equity stake in TerraForm Power by SunEdison . TerraForm Power and TerraForm Global, SunEdison working together to explore potential "value creating options" for SunEdison's interests . Rights agreement adopted in response to accumulation of TerraForm Power class A shares by entities affiliated with Brookfield Asset Management . "Rights agreement does not in any way weaken TerraForm power's financial strength or interfere with its business plans" . Sets trigger for stockholder rights plan at 15 percent .Issuance of rights has no dilutive effect, will not affect reported EPS, is not taxable to TerraForm Power or its stockholders.  Full Article

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Brookfield Asset proposes to take 50-60 percent stake in TerraForm Power

Brookfield Asset Management Inc proposed on Friday to take a 50-60 percent stake in bankrupt solar company SunEdison Inc unit TerraForm Power Inc , a week after it expressed interest in buying the "yieldco".