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SunEdison Inc (WFR.D)

WFR.D on Dusseldorf Stock Exchange

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25 Apr 2016
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Latest Key Developments (Source: Significant Developments)

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

Terraform Global says Sunedison has requested that company share confidential information
Wednesday, 20 Jul 2016 06:25am EDT 

Terraform Global Inc : Sunedison has requested that co share confidential information about the company . Sunedison requested that co take other steps to facilitate marketing of Sunedison interests in co; co considering Sunedison's request . Co details preliminary financial data for bondholders in presentation . Delays in filing form 10-K for fiscal year ended Dec 31, 2015, form 10-Q for quarter ended March 31 could have material adverse effect . Delay in filing form 10-K and audited financial statements may impair ability to obtain financing and access the capital markets . Financials for year ended Dec 31, 2015 or related audit report may include note regarding co’s ability to continue as going concern . If we incur material tax liabilities, distributions to holders of class a common stock may be reduced . A number of 425 MW India projects appear to have been cross-funded or cross-collateralized by sunedison in violation of project lending agreements . Q1 earnings per share view $0.14, revenue view $102.3 million -- Thomson Reuters I/B/E/S . In active discussions with Sunedison's concerning jointly supported sales process; made no decision to support any bidder, structure or deal . Sees Q1 2016 revenue $47 million to $52 million . Sees Q1 2016 net loss $8 million to breakeven . Q1 operating results below management expectations due to unusually low wind in brazil.  Full Article

Pattern Energy acquires development rights to King Pine Wind Power project
Wednesday, 6 Jul 2016 07:00am EDT 

Pattern Energy Group Inc : Pattern Development acquires the development rights to the 600 MW King Pine Wind Power project in Maine .Has acquired from SunEdison development rights to proposed 600 megawatt (MW) King Pine wind power project.  Full Article

Sunedison names Philip Gund CFO as CFO designee resigns
Tuesday, 28 Jun 2016 09:12pm EDT 

Sunedison Inc : Sunedison appoints new finance leadership; names Philip J. Gund chief financial officer . Sunedison Inc says appointed Salvatore Lobiondo, Jr. , as SVP, corporate controller . Company's prior Chief Financial Officer Designee, Ilan Daskal, resigned from Sunedison on June 27 , 2016 .Sunedison appoints new finance leadership; names Philip J. Gund chief financial officer.  Full Article

Sunedison names Philip Gund CFO as CFO designee resigns
Tuesday, 28 Jun 2016 06:10pm EDT 

Sunedison Inc : Sunedison appoints new finance leadership; names Philip J. Gund chief financial officer . Sunedison Inc says appointed Salvatore Lobiondo, Jr. , as SVP, corporate controller . Company's prior Chief Financial Officer Designee, Ilan Daskal, resigned from Sunedison on June 27 , 2016 .Sunedison appoints new finance leadership; names Philip J. Gund chief financial officer.  Full Article

SunEdison receives final bankruptcy court approval of debtor-in-possession financing
Friday, 10 Jun 2016 08:00am EDT 

SunEdison Inc : Received final bankruptcy court approval of debtor-in-possession (DIP) financing in form of new capital totaling up to $300 million .Receives final bankruptcy court approval of debtor-in-possession financing.  Full Article

Terraform Global receives notice of default from trustee
Thursday, 2 Jun 2016 07:36am EDT 

Terraform Global Inc : Terraform Global Operating LLC received notice of default from trustee under indenture governing its 9.75 pct senior notes due 2022 . Terraform Global Operating, LLC has $760.4 million aggregate principal amount of senior notes outstanding . Default notice does not accelerate senior notes prior to expiration of cure period, or cross-default under credit and guaranty agreement .There can be no assurance that company will file or make available 2015 annual report within cure period under indenture.  Full Article

Sunedison says will delay filing quarterly report
Thursday, 12 May 2016 04:26pm EDT 

Sunedison Inc : Files For Non Timely 10-q . Delay in filing 10-q is primarily due to previously disclosed inability to file form 10-k for fiscal year ended december 31, 2015 . 10-K continues to be delayed due to previously disclosed identification of material weaknesses in internal controls over financial reporting . Because of material weaknesses, additional procedures are necessary to complete the company’s annual financial statements . To date, additional procedures have not resulted in identification of any material misstatements, restatements for any period reported . Company is currently seeking the appointment of an independent accounting firm through the bankruptcy court .Does not anticipate being able to file form 10-q within 5 calendar day period set forth in rule 12b-25 under the securities exchange act.  Full Article

BRIEF-SunEdison provides CFO Brian Wuebbels formal notice of employment termination
Thursday, 12 May 2016 04:26pm EDT 

Corrects headline to say CFO Brian Wuebbels, not CFO-designee Ilan Daskal, will step down.designee Ilan Daskal, will step down)) May 12 (Reuters) - SunEdison Inc : Provided Brian Wuebbels, chief administration officer, chief accounting officer and CFO, a formal 30-day notice of termination of employment . Ilan Daskal will remain SunEdison's chief financial officer designee until Daskal and SunEdison agree to remove designee title .Wuebbels last day of employment will be June 9, 2016; during notice period, Wuebbels' title will be advisor to chief restructuring officer.  Full Article

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SunEdison unit TerraForm Power adopts poison pill

SunEdison Inc's unit TerraForm Power Inc said it had adopted a shareholders rights plan to prevent any sale of a significant number of Class A shares in the company.