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TerraForm Power prices $700M offering of senior notes

Oct. 11, 2019 6:00 AM ETTerraForm Power, Inc. (TERP) StockTERPBy: Niloofer Shaikh, SA News Editor
  • TerraForm Power Operating, LLC, an  indirect subsidiaryof TerraForm Power (NASDAQ:TERP) has priced $700M of 4.75% senior notes due 2030 at 100% of the principal amount.
  • The Offering is expected to close on or about October 16.
  • The Issuer intends to use the net proceeds to redeem in full its existing senior notes due 2025, to repay in full amounts outstanding under its senior secured term loan facility and to pay related fees and expenses, with any remaining amounts to be used for general corporate purposes.
  • The Issuer has called for redemption all of the Existing 2025 Notes and is conditioned upon completion of the Offering.
  • Previously: TerraForm Power proposes $700M of senior notes (Oct. 10)

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TerraForm Power, Inc.