- SunEdison (SUNE -1.3%) is offering $500M worth of convertible senior notes due 2020. The notes carry an interest rate of 0.25%, and sport an initial conversion price of $26.87/share - a 32% premium to current levels.
- Shares initially sold off yesterday after SunEdison announced the offering (without giving pricing), but finished the day higher.
- The company had $3.05B in solar energy systems debt at the end of Q1, and $891M in other debt. Cash/equivalents totaled $463.4M, and another $178.2M in cash was committed to construction projects.
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