[BIPV Investor 10]

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.

[saush11 40]

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.

 

[pg6solar 95]

Thanks for info. Official PR for both (GLBL and TERP) is what's required and pressure stays as long as its not announced. 

[disdaniel 61]

GLBL short interest fell ~1M shares to just under 5M in first two weeks of Feb.

[Jetmoney 28]

Moody downgraded TERP and GLBL with negative outlook:

https://www.moodys.com/research/Moodys-downgrades-TerraForm-Power-and-TerraForm-Global-to-B3-CFR--PR_344232?WT.mc_id=AM~WWFob29fRmluYW5jZV9TQl9SYXRpbmcgTmV3c19BbGxfRW5n~20160224_PR_344232

[odyd 1,315]

Moody downgraded TERP and GLBL with negative outlook:

https://www.moodys.com/research/Moodys-downgrades-TerraForm-Power-and-TerraForm-Global-to-B3-CFR--PR_344232?WT.mc_id=AM~WWFob29fRmluYW5jZV9TQl9SYXRpbmcgTmV3c19BbGxfRW5n~20160224_PR_344232

That is just BS, on parent weakness.

[zendoc1love 45]

Bummer

[Julyw 18]

On December 10th Moody's downgraded ABY https://www.moodys.com/research/Moodys-downgrades-Abengoa-Yields-CFR-to-B1-from-Ba3-outlook--PR_340230

[pg6solar 95]

Good point since stock went up, not down.

[Julyw 18]

Could this be the reason why GlBL stock has cratered? https://biz.yahoo.com/e/150923/glbl8-k.html

[disdaniel 61]

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...)

[Julyw 18]

Thanks disdaniel I read it under a bog  about SUNE written in Oct. 2015 while reading through the comments. I bought more shares today. I think the selling is overdone personally. http://brontecapital.blogspot.com/2015/10/sun-edison-some-comments-and-way-forward.html

[odyd 1,315]

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.

[explo 632]

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.

 

[saush11 40]

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? 

[explo 632]

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.

 

[odyd 1,315]

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.

[explo 632]

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).

[disdaniel 61]

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

[disdaniel 61]

seeking alpha confirms and is reporting March 8 as ex-dividend date

http://seekingalpha.com/news/3150456-terraform-global-declares-0_275-dividend