SunEdison said on June 10 that it has received final Bankruptcy Court approval of debtor-in-possession (DIP) financing in the form of new capital totaling up to $300 million provided by a consortium of first and second lien lenders.
These financial resources will be made available to the Company under the terms of the DIP Credit Agreement to support its continuing business operations, minimize disruption to its worldwide projects and partnerships, and make necessary operational changes.
SunEdison and certain of its domestic and international subsidiaries filed voluntary petitions for reorganization under chapter 11 in the Southern District of New York on April 21, 2016.