SunEdison yieldco Terraform Power will look to raise US$500 million with a fresh share offering, according to a company filing.
A further US$149.6 million of bonds will also be offered.
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The company said it would use US$235 million to pay down an existing revolver credit agreement. US$413.5 million will be used to fund future acquisitions from SunEdison, from third parties or to make further debt repayments.
In a filing to the NASDAQ exchange, the company also confirmed that its portfolio of solar and wind assets (as of 1 May, 2015) totalled 1,703MW.
Ensuring greater returns for shareholders requires yieldcos to consistently grow their portfolio of projects. Investor analysts Baird Capital said the company was in a good position to continue doing this, meaning demand for the new share issue would likely be high.
Earlier this week SunEdison began boosting the finances and likely future portfolio of the Terraform Global yieldco, which will focus on emerging markets.
