Shares of Sunedison Inc SUNE are down heavily on Tuesday amid a report the company is meeting with second lien holders, according to Debtwire.
“SunEdison is in negotiations with holders of its second lien loans to fund a DIP facility,” two sources familiar with the matter told the outlet. The reported added that the second lien investor group includes holders of “aggregated USD 725m Libor +1000bps second lien term loans A-1 and A-2, both of which come due in 2018.”
These talks are an attempt by the creditors to reach an “out-of-court solution” to Sunedison’s liquidity and leverage problems, adding that the company is also searching for a DIP loan, Debtwire said.
From Bad To Worse
Things seem to continue going from bad to worse for SunEdison shareholders. Earlier this month, shares of the battered stock surged 33 percent when news broke that SunEdison had terminated a potential buyout of Vivint Solar Inc VSLR.
SunEdison has also yet to report its full 2015 annual earnings report due to an ongoing internal investigation of its reporting controls.
Assuming SunEdison gets its internal issues under control, it must still convince the market that it can continue to sell projects without strong demand from TerraForm Power Inc TERP and TerraForm Global Inc GLBL.
Most importantly, SunEdison must convince…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
