On Thursday, Sunedison Inc (NYSE:SUNE)’s shares inclined 0.99% to $5.12.
SunEdison, Inc. (SUNE) announced that its wholly-owned subsidiary, Seller Note, LLC, entered into an agreement to extinguish all of its outstanding $336 million aggregate principal amount of 3.75% Guaranteed Exchangeable Senior Secured Notes due 2020 (the “Exchangeable Notes”). In return for extinguishing the Exchangeable Notes, noteholders will receive consideration in the form of SunEdison’s membership equity interest in certain under development renewable energy assets as well as a specified number of Class A shares of TerraForm Power, Inc. (TERP) currently utilized by the Company to secure the Exchangeable Notes. Approximately $121 million of the Exchangeable Notes will be extinguished shortly following the signing of the agreement, with the remainder to be extinguished upon the transfer of the relevant projects.
“We are very pleased to reach an agreement with the holders of the Exchangeable Notes to extinguish the debt.” said Brian Wuebbels, SunEdison’s chief financial officer. “We believe this was a mutually beneficial solution to deleverage our balance sheet by selling our under development assets as well as the Company’s shares of TerraForm Power.”
Terms of the Transactions
The Company intends to file a Current Report on Form 8-K that provides additional details on the transaction.
SunEdison, Inc. develops, manufactures, and sells silicon wafers to the semiconductor industry. The company operates through three segments: Solar Energy, TerraForm Power, and Semiconductor Materials. ‘
QUALCOMM, Inc. (NASDAQ:QCOM)’s shares dropped -0.84% to $49.99.
Qualcomm Incorporated (QCOM) and Beijing Tianyu Communication Equipment Co., Ltd. (Tianyu), declared that they have reached a new 3G and 4G Chinese patent license agreement. Under the terms of the agreement, Qualcomm has granted Tianyu a royalty-bearing patent license to manufacture and sell 3G WCDMA and CDMA2000 (counting EV-DO), and 4G LTE (counting “3-mode” GSM, TD-SCDMA and LTE-TDD) subscriber units for use in China. The royalties payable by Tianyu are consistent with the terms of the rectification plan presented by Qualcomm to China’s National Reform and Development Commission.
“Qualcomm is happy to support the growth of Chinese companies such as Tianyu as part of our long-term partnership with China’s mobile industry,” said Eric Reifschneider, senior vice president and general manager of Qualcomm Technology Licensing for Qualcomm Incorporated. “This new agreement enables Tianyu to develop, manufacture and sell 3G and 4G devices, greatly enhancing their competitive position in the wireless landscape.”
“Tianyu recognizes Qualcomm as a global technology leader and innovator, and respects the value of the license we have obtained to Qualcomm’s Chinese wireless IPRs,” said Madam Rong Xiuli, CEO of Tianyu. “We are happy to sign this license agreement because it provides us with the opportunity to improve and expand our product offerings in China and certain overseas markets, empowering our users with greater access to advanced wireless services and information.”
QUALCOMM Incorporated develops, designs, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, the United States, and internationally.
Total System Services, Inc. (NYSE:TSS)‘s shares dipped -0.70% to $49.80.
TSYS (TSS) will issue its fourth-quarter earnings report on January 26, 2016, at about 4:15 p.m. ET. A conference call to discuss these results, business trends and future projections will be held on January 26, 2016 at 5:00 p.m. ET. Shareholders and other interested persons may listen to this conference call via simultaneous internet broadcast at www.tsys.com by clicking on the link under “Webcasts” on the homepage. You must download Windows Media Player (free download available) before accessing the conference call or the replay. The conference call will be archived for 12 months and will be available starting 30 to 45 minutes after the call ends.
Total System Services, Inc. provides electronic payment processing services to banks and other financial institutions in the United States, Europe, Canada, Mexico, and internationally.
