SunPower in Convertible Debentures Offering
June 11, 2014
June 11, 2014
Cleary represented Deutsche Bank Securities, as representative of the initial purchasers, in a $400 million offering by SunPower Corporation of 0.875% senior convertible debentures due 2021. In the offering, $250 million of the debentures were sold to SunPower’s majority shareholder, and the remaining $150 million of the debentures were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offering priced on June 5th and closed on June 11th.
SunPower is a leading global energy services company dedicated to changing the way the world is powered. Through design, manufacturing, installation and ongoing maintenance and monitoring, SunPower provides its proprietary, high-performance solar technology to residential, commercial and utility customers worldwide.