TerraForm Power Operating LLC repriced term loans to reduce the interest rate by 0.75% per annum, effective May 11.
The affected term loans are those under a term loan and guaranty agreement dated Nov. 8, 2017, according to a Form 8-K filed May 18.
As such, the term loan bears interest at a rate equal to, at the company's option, either LIBOR plus an applicable margin of 2.00% per annum or a base rate plus an applicable margin of 1.00% per annum.
The TerraForm Power Inc. subsidiary said it will pay continuing lenders and any new lenders an original discount on the repriced term loans equal to approximately $436,400.
The company did not incur additional debt or receive any proceeds in connection with the repricing amendment.
