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TerraForm Power again extends consent solicitation deadline

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TerraForm Power again extends consent solicitation deadline

TerraForm Power Operating LLC has again the deadline for bondholders toissue their consent to waive a notice of default and allow up to six monthsto submit its financial reports.

Holders of 5.875% senior notes due 2023 and 6.125% seniornotes due 2025 may still give their consent until 5 p.m. ET on July 13.

TerraForm Power, an affiliate of bankrupt renewables companySunEdison Inc.,depends on the latter for its financial reports. The yieldco previouslysaid it wasevaluating whether control deficiencies at its sponsor impacted its own results.

The bondholders earlier gave the company until the end of August to submit its2015 annual report.

TerraForm Power has proposedfour extension periods, with the final one expiring on Dec. 31. Bondholders whoagree to the waiver will get $2.50 for every $1,000 in principal held. Eachextension would trigger additional cash payments of $2.50 for every $1,000 inprincipal.

Citigroup Global Markets Inc. serves as the solicitationagent for the consent solicitation.