SunEdison filed with the U.S. Bankruptcy Court a Joint Plan of Reorganization and related Disclosure Statement.
According to the Disclosure Statement, “As of the date hereof, and based on the recently announced Brookfield transactions, the plan of reorganization…envisions (a) the Debtors’ (or their creditors’) continued ownership of certain shares in TERP under Brookfield’s sponsorship, (b) the Debtors’ receipt of some cash from the sale of certain of their shares in TERP, and (c) the Debtors’ sale (for cash) of their interests in GLBL. The amounts of sub-clauses (a) and (b) shall be determined, in part, by the Debtors’ choice as well as the choices made by the public “Class A” shareholders of TERP.”
In addition, “As of the date hereof and based on the announced share price, the approximate aggregate value of sub-clauses (a), (b), and (c) will be more than $800 million. Distributions under the Plan will be made from a combination of equity in Reorganized SUNE, interests in the GUC/Litigation Trust, Cash on hand, Cash from proceeds received through the Rights Offering (in the TERP Share Election Alternative only), and cash received from the Jointly Supported Transactions.”
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