TerraForm Global, a yieldco formed by SunEdison to own wind and solar power assets in emerging markets, announced terms for its IPO on Monday.
The Bethesda, MA-based company plans to raise $1.1 billion by offering 56.6 million shares at a price range of $19 to $21. At the midpoint of the proposed range, TerraForm Global would command a fully diluted market value of $3.6 billion.
TerraForm Global, which was formed in 2014 and booked $325 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol GLBL. J.P. Morgan, Barclays, Citi, Morgan Stanley, Goldman Sachs, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of July 27, 2015.
