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SunEdison Inc (WFR.F)

WFR.F on Frankfurt Stock Exchange

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22 Mar 2017
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Latest Key Developments (Source: Significant Developments)

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

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

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Brookfield to take control of SunEdison units for $1.41 billion

Brookfield Asset Management Inc said on Tuesday it would buy one of the two "yieldcos" of bankrupt U.S. solar company SunEdison Inc and take a 51 percent stake in the other, for a total of about $1.41 billion.