MARYLAND HEIGHTS, Mo. — SunEdison’s wholly-owned subsidiary SUNE ML 1, LLC repaid substantially all of the amounts due and owing pursuant to the Margin Loan Agreement it had entered into with Deutsche Bank AG, London Branch, as the administrative agent and the calculation agent, and the other lenders party thereto.
Following the payment, approximately $5 million remains outstanding under the Margin Loan Agreement, which is cash collateralized, plus accrued and unpaid interest, if any, and any other fees pursuant thereto.
“We believe a significant portion of the recent volatility around the Company and its subsidiaries has been attributed to the Margin Loan,” said Ahmad Chatila, SunEdison President and Chief Executive Officer. “As we shared with you yesterday, we are taking aggressive steps to align our operations, leverage our existing platform and capitalize on our organic development opportunities as we enhance our cash flow to drive value for our shareholders.”
The Company filed a Current Report on Form 8-K today with the Securities and Exchange Commission further describing the margin loan repayment and other matters.
SunEdison is the largest global renewable energy development company and is transforming the way energy is generated, distributed, and owned around the world. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world’s largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.”