- SunPower (SPWR) is offering $400M worth of convertible senior notes due June 2021.
- Total (TOT), which owns 60% of SunPower, has committed to buying $250M of the notes.
- Potential uses of the funds include capex, paying down existing debt, and pursuing SunPower's HoldCo strategy, under which the company is creating a solar project subsidiary that in turn could sell a stake (possibly through an IPO).
- SunEdison announced a $500M convertible offering earlier today; the majority of its proceeds will go to the company's TerraForm Power (YieldCo) spinoff.
- SunPower rose 7% in regular trading, thanks to the DOC's tariff announcement. The company had $900M in debt at the end of Q1, and $1.32B in cash/investments.
From other sites
Video at CNBC.com (May 27, 2015)
at CNBC.com (Feb 23, 2015)
at CNBC.com (Jan 13, 2015)
at CNBC.com (Dec 16, 2014)
at CNBC.com (Dec 4, 2014)
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