SunEdison Amends Letter of Credit Facility to $800 Million USD for Credit Commitments and Future Increases
Facilities Cap Increases from $400 Million to $800 Million
BELMONT, Calif., Oct. 14, 2014 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), a leading solar technology manufacturer and provider of solar energy services, today announced the Credit Facility's overall cap was increased from $400 million USD to $800 million USD. The amendment reflects the banking community's strong confidence in SunEdison and will allow additional banks to participate in the Credit Facility as SunEdison continues to grow its business.
The Credit Facility was also amended to permit investments in (i) a subsidiary of the company formed for the purpose of owning subsidiaries that own and operate renewable energy systems, and (ii) wind, biomass, natural gas, hydroelectric, geothermal or other clean energy generation systems or hybrid energy generation systems.
Brian Wuebbels, Chief Financial Officer of SunEdison, said: "These increases in our Credit Facility will enable SunEdison to capture additional business opportunities and continue our rapid volume growth."
The Credit Facility was originally entered into on February 28, 2014 with Wells Fargo Bank, National Association, as administrative agent, Goldman Sachs Bank USA and Deutsche Bank Securities Inc., as joint lead arrangers and joint syndication agents, and Goldman Sachs Bank USA, Deutsche Bank Securities Inc., Wells Fargo Securities, LLC and Macquarie Capital (USA) Inc., as joint bookrunners (the "Credit Facility"), and was amended on May 27, 2014 and June 4, 2014.
Details regarding the October 6, 2014 Credit Facility amendment will be filed with SunEdison's third quarter Form 10-Q, which is anticipated to be filed in November 2014.
About SunEdison
SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Africa, India and Asia. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
SOURCE SunEdison, Inc.
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