odyd

TerraForm Global (GLBL)

242 posts in this topic

28 minutes ago, saush11 said:

Just spoke to IR on why no press release on earnings date. It is because now they are not 100% sure that it will be 25th.

Thanks for the update. Makes sense as until some clarity on SUNE's future emerges, it is hard for either SUNE, TERP, or GLBL to have an earnings call. Feeling like I jumped on board a molasses train with GLBL. Have missed a massive run in the market over the past three days only to watch GLBL to have flatlined at 3.0. Frustrating to say the least.

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According to IR,

Dividend would be paid as per the TERP schedule. Hence, I guess, a dividend to be declared around 25th along with an insight into earnings. Schedule 10-K to be done latest by March 31st.

 

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Appreciate your work in finding this Julyw, but how/why does this explain the fall?

(other than more financial complexity in the already confusing sune complex...)

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This is about those projects

In the event that the actual closing date for any project is delayed beyond thirty (30) days after its anticipated transfer date, then the Seller shall be required to pay liquidated damages to Global LLC. In addition, the Seller is obligated to pay Global LLC certain liquidated damages in the event that all projects have not been transferred by the Outside Date (which is defined as the date that is three months from the last anticipated transfer date) and either party has terminated the Agreement or there is a material breach by the Seller of its representations, warranties or obligations under the Agreement that remains not cured after the applicable cure period and Global LLC has terminated the Agreement.  Finally, prior to the Outside Date, Global LLC and Seller may agree to substitute any project initially anticipated to be transferred under the Agreement with a different project and/or propose additional projects to be transferred under the Agreement to Global LLC, provided that such replacement projects shall have at least an equivalent value, shall be able to be transferred to Global LLC by the Outside Date and are located in the geographical regions in which Global LLC intended to operate.

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Good discussion. Forget the parent relationship a bit and its speculative influence over subsidiaries in the future. Is one risk in current state of affairs where yieldcos can be seen as customers and SUNE as supplier that GLBL has made more prepayments for assets yet to be delivered (than TERP) and that those prepayments (liabilities maybe not honored in case of BK on SUNE BS, assets at risk on GLBL BS) now carry a high credit risk due to SUNE's financial problems?

 

[Moving from TERP]. I looked at the BS in latest ER and there I don't see much prepayments risk for GLBL at least. 1b in cash on the other hand. But the shape of the BS can have changed a lot since the of course.

 

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1 hour ago, explo said:

[Moving from TERP]. I looked at the BS in latest ER and there I don't see much prepayments risk for GLBL at least. 1b in cash on the other hand. But the shape of the BS can have changed a lot since the of course.

 

With the independence of board in question, anything can happen. But what r the ways in your view, the BS could have changed? 

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19 minutes ago, saush11 said:

With the independence of board in question, anything can happen. But what r the ways in your view, the BS could have changed? 

In theory it can have change for example by cash moving to prepayments, but i haven't analyzed the post ER transactions.

 

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The $231M for India projects were taken immediately, almost. It was taken by the Dec 7 for Global.

I was curious how much cash was left after Invenergy in TERP for Vivint, however I am not sure based on revolver.

TERP cash level could be deeply reduced in Q4 and certainly with Vivint acquisition.

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GLBL seems to be a follow SUNE stock for now.

For those who want to play some SUNE speculative bets, betting on GLBL might be a safer option (similar short-term move, but long-term more certain stock value).

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TerraForm Global, Inc. (GLBL), a global owner and operator of clean energy power plants, today announced that its Board of Directors declared its 4Q 2015 dividend on the Company's Class A common stock of $0.275 per share. This represents a dividend of $1.10 per share on an annualized basis. The dividend is payable on March 17, 2016 to shareholders of record as of March 10, 2016.

http://finance.yahoo.com/news/terraform-global-inc-declares-fourth-221709916.html

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