SunEdison gets $250M in YieldCo financing from Goldman

|By:, SA News Editor

Goldman is providing SunEdison's (SUNE +0.5%) YieldCo solar project spinoff with a $250M credit facility ahead of its planned IPO.

SunEdison says it will use the facility to "acquire projects from third party developers as well as projects developed by SunEdison."

The company previously said it would sell a 20%-30% stake in YieldCo, with the goal of raising up to $300M for new projects. The spinoff is expected to pay a dividend, and have $40M-$60M/year in distributable cash flow.