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TerraForm Global reports early tenders of $43.99 million 2026 notes
By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – TerraForm Global Operating LP announced early results of its partial cash tender offer for up to a $65 million total purchase price for its 6 1/8% senior notes due 2026 (Cusips: 88104UAC7, US88104UAC71), according to a news release.
The company reported $43,992,000 of the notes, or 10.98%, of the $400 million outstanding principal amount of the notes were tendered by the early deadline of 5 p.m. ET on Dec. 23.
The company offered a total consideration per $1,000 principal amount of $955, inclusive of a $30 early tender premium, to holders who tendered by the early deadline. Because the total amount of notes tendered by the early deadline resulted in a purchase price that is below the maximum, all of the early tenders were accepted for purchase without proration.
The early settlement date is set for Dec. 29. The total cash payment made on that date will be $42,827,305.15.
The offer will expire at 11:59 p.m. ET on Jan. 10.
Global Bondholder Services Corp. (855 654-2015 or 212 430-3774) is the tender agent and information agent.
Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) is the dealer manager.
TerraForm Global is a Bethesda, Md., renewable energy company.
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