SunEdison bankruptcy loan hearing moved to Friday

SunEdison’s scheduled hearing on Thursday in a New York bankruptcy court on its $300m bankruptcy loan was postponed until Friday.

Some of SunEdison’s creditors and its so-called yieldcos, TerraForm Global Inc. and TerraForm Power Inc., had objected in court papers to the debtor-in-possession loan, which includes features that may help a group of lenders recoup their initial investment.

According to SunEdison’s attorney Jay Goffman, a deal on the DIP loan was expected by Friday.

SunEdison filed for bankruptcy in April after its ambitious growth plan proved unsustainable. It received approval from a judge last month to tap some of the DIP loan.

Source: Reuters

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s