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