SunEdison has completed a USD335 million private placement of membership interests in TerraForm Global, an indirect subsidiary of SunEdison formed to own and operate contracted clean power generation assets in emerging markets.
Additionally, TerraForm Global, an indirect subsidiary of SunEdison, entered into a stock purchase agreement for the sale of USD67.5 million of its Class A common stock in a private placement, conditioned upon the closing of its initial public offering. The private placements were entered into with institutional investors, including Baron Funds, Capricorn Investment Group, GE, Glenview Capital Management, Kingdon Capital Management and Zimmer Partners. These investments are in addition to the USD175 million of private placements announced on 7 May.