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SunEdison Files Emerging Markets Yieldco :

May 12, 2015 - Power, Finance and Risk
Board and Executive Moves

SunEdison has filed an initial registration form for TerraForm Global, its proposed emerging markets yield company. JPMorgan, Barclays, Citigroup and Morgan Stanley are joint book runners on the planned IPO.

The S-1 was filed with the U.S. Securities and Exchange Commission on Thursday. The issuer and book runners aim to raise a maximum of $700 million. The pricing and the number of shares offered have not been determined. A timetable for a roadshow could not immediately be established.

TerraForm Global will generate an aggregate of $164.8 million of cash available for use in 2016, according to the filing. The initial portfolio comprises 987.8 MW of contracted solar, wind and hydro projects in China, India, South Africa, Uruguay, Malaysia, Thailand, Brazil, South Africa and Peru. The portfolio includes 758 MW of projects acquired by SunEdison in seven recent acquisitions. Renova Energia, Latin American Power and Solarpack Corporación Tecnológic have sold projects to SunEdison which are slated to drop into the new yiel...