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FEED_THE_FOXES

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Wednesday, 04/05/2017 8:53:28 AM

Wednesday, April 05, 2017 8:53:28 AM

Post# of 36208
SUNEQ is motioning the Court (Docket #2732) to replace its current DIP Credit Facility, which matures April 26th, with a new DIP Credit Facility for $940MM. It seems that all of the DIP Lenders (except for the Tranche B Roll-up Lenders) want out. H. Parkhill reported that they needed $1.6 billion but there is insufficient estate value to support it. The new Facility will cost LIBOR plus 6.5% on the $640 cash portion and LIBOR plus 11% on the $300MM Tranche B portion. If the yieldco sale value of $826MM is realized when forecast the new DIP lenders will be lucky to get out whole.
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