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SunEdison Finally Files for Bankruptcy

Solar PV maker SunEdison Inc. (NYSE: SUNE) announced Thursday morning that it had voluntarily filed petitions for a Chapter 11 reorganization with the bankruptcy court for the southern district of New York. SunEdison’s publicly traded yieldcos, TerraForm Power Inc. (NASDAQ: TERP) and TerraForm Global Inc. (NASDAQ: GLBL) are not included in the filings.

The company said it has secured $300 million in debtor-in-possession financing from a consortium of first- and second-lien lenders. The financing will allow the company to continue work on ongoing projects both in the United States and abroad; to continue paying employees, providing services to customers, paying vendors and suppliers; and to meet the company’s regulatory obligations.

In an FAQ for shareholders, SunEdison said if the stock is delisted...


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