Boston, MA 12\/13\/2013 (wallstreetpr) –\u00a0 Sunedison Inc (NYSE:SUNE) made an announcement on December 11, Wednesday that \u00a0it intends to offer \u00a0$400 million\u00a0net principal amount of convertible senior notes\u00a0that are due 2018 and $400 million\u00a0net principal amount of convertible senior notes that are due 2021, in a private placement, subject to market and other conditions.\u00a0 The notes will be offered\u00a0only to qualified institutional buyers\u00a0by the initial purchasers, subject to Rule 144A of the Securities Act of\u00a0the year 1933. Also, the company wants to grant a 30-day option to buy $80 million (additional) net principal amount of each series of notes.<\/p>\n
Usage of Proceeds<\/b><\/p>\n
The proceeds of the offering is intended to be used by the company to fund the cost of convertible note, to repay all money borrowed under its\u00a0$200 million \u00a0loan with\u00a0\u00a0interest rate of 10.75% and to \u00a0redeem all\u00a0$550 million outstanding net principal amount of its 7.75% senior notes that are due 2019.<\/p>\n
Notes<\/b><\/p>\n
Subject to certain conditions, the notes can be converted into cash. They can also be converted into shares of common stock of the company subject to certain requirements of the shareholder. Likewise, they can be converted into combination of cash and common stock shares, at the opinion of the company. At the time of pricing of the offering, the other terms of the notes would be determined; that is, conversion price, conversion rate, interest rate and other factors.
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Other Counterparties<\/b><\/p>\n
The company intends to enter into convertible note transactions with counterparties that\u00a0can include initial purchasers and their affiliates. The company also wants to enter into separate\u00a0negotiated warrant transactions with counterparties.
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Restrictions<\/b><\/p>\n
The shares of common stock of the company that can be issued after the conversion of notes or the notes themselves will not be registered under any state securities law or Securities Act. They also cannot be sold for benefit or offered in the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 12\/13\/2013 (wallstreetpr) –\u00a0 Sunedison Inc (NYSE:SUNE) made an announcement on December 11, Wednesday that \u00a0it intends to offer \u00a0$400 million\u00a0net principal amount of […]<\/p>\n","protected":false},"author":15,"featured_media":12891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3005,4075,4074,3004],"stock_ticker":[],"class_list":["post-12890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nysesune","tag-sune","tag-sunedison-inc","tag-sunedison-inc-nysesune","entry"],"acf":[],"yoast_head":"\n