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News Breaks
July 23, 2014
16:55 EDTTERPAltai Capital reports 6.5% stake in TerraForm Power
On May 28, the company announced that Steven Tesoriere, managing principal of the Investment Manager, had been appointed to the Board of Directors. In addition, Altai Capital has engaged and may in the future engage in discussions with and/or meet with management, the Board of Directors of the company and other shareholders and/or formulate plans or proposals regarding the company or its securities. As part of such activities, Altai Capital may take positions or make proposals with respect to potential changes in the operations, management, Board of Directors composition, ownership, capital structure, strategy and future plans of the company as a means of enhancing shareholder value.
News For TERP From The Last 14 Days
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August 31, 2015
11:12 EDTTERPJPMorgan says buy SunEdison after recent pullback
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August 27, 2015
10:00 EDTTERPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Cameron (CAM) downgraded to Hold from Buy at Gabelli... Just Energy (JE) downgraded to Sector Perform from Outperform at RBC Capital... TerraForm (TERP) downgraded to Neutral at Baird... Williams-Sonoma (WSM) downgraded to Neutral from Buy at BofA/Merrill.
09:00 EDTTERPTerraForm downgraded to Neutral at Baird
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05:19 EDTTERPTerraForm downgraded to Neutral from Outperform at Baird
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August 25, 2015
07:32 EDTTERPTerraForm dividend yield should limit downside risk, says UBS
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07:15 EDTTERPSunEdison downgraded to Neutral from Buy at UBS
UBS analyst Julien Dumoulin-Smith downgraded SunEdison (SUNE) to Neutral from Buy, stating that with many investors losing confidence that its outlook could get worse before it gets better and that he "cannot recommend investors attempt to catch a falling knife." The analyst believes that there is still fundamental value if the company can achieve its stated targets, but has reduced his TerraForm (TERP) GP valuation given concerns about long-term sustainable growth and lowered his price target on SunEdison shares to $11 from $20.
August 19, 2015
08:16 EDTTERPTerraForm management taking steps to ensure growth, says Baird
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07:38 EDTTERPSunEdison completes 6 MW solar power plant for Lakeland Electric
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August 18, 2015
11:03 EDTTERPSunEdison raises capital while Trina Solar tops expectations
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August 17, 2015
16:15 EDTTERPSunEdison, Goldman Sachs fund form $1B construction, operating asset facility
SunEdison (SUNE) and West Street Infrastructure Partners III and affiliates, announced the formation of a new $1B warehouse investment vehicle, the WSIP Warehouse, to fund construction costs and to acquire operating assets. TerraForm Power (TERP) will have an exclusive call right over the warehoused assets. The WSIP Warehouse is a $1B investment vehicle with $300M equity committed, subject to certain conditions, by WSIP, the infrastructure fund managed by Goldman Sachs (GS). The debt structuring will be led by Morgan Stanley, Bank of America and Deutsche Bank and will provide commitments for $700M of debt in the form of a $500M, five-year term loan and a $200M, four-year revolving credit facility. SunEdison has the option to expand the facility by up to $1B to a total of $2B, subject to certain conditions. The decision to add additional warehouse capacity was completed following an analysis by SunEdison of its financing requirements through 2016 and after exploring alternative debt and equity transactions. SunEdison continues to explore financing alternatives, including upsizing its existing warehouse facilities and adding new warehouse facilities. Completion of the formation of the WSIP Warehouse and the financial close of the related debt facilities are subject to customary conditions and are expected to occur by Oct. 31, 2015.

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